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>> Versace Layoffs Coming to Help House Gain Back Profitability
—Ever since former Versace CEO Giancarlo di Risio left the brand in June after clashing repeatedly with Donatella Versace, repositioning has been the order.  Versace announced earlier this month that it would close all stores in Japan, and now comes news that the brand will cut 350 jobs worldwide by the middle of next year after forecasting a loss in 2009 and a flat 2010.  The layoffs aim to help the house ensure profitability by 2011. [WWD]

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