Revenue Fell To 20 Million Euros Last Year, Brioni Will Lay Off 140 People.

According to the latest news, in the past 2015, the Brioni group's revenue has dropped to 20 million euros, the group will prepare to lay off 140 people and reduce the group's expenditure.

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According to the latest news, after 10 hours' meeting, Italy menswear brand Brioni reached an agreement with the trade union, and agreed to reduce 140 full-time employees in the brand factory of the brupo region.

According to the company spokesman,

32000 euros ($36435) will be offered as compensation for voluntary turnover.

Brioni is looking for a balance between its workforce and productivity. According to relevant information, the brand's productivity has declined dramatically over the past few years.

In addition, the working hours of all employees will be adjusted from 40 hours to 32 hours.

This will reduce the number of Brioni workers below the originally anticipated employment rate. The Union's earlier request was to lay off about 400 employees.

If fewer than 140 full-time employees voluntarily resign, Brioni will have to make mandatory layoffs.

At present, Brioni produces about 30 thousand units annually, and the company hopes to increase its output to 33000 from 2018.

Brioni announced the layoffs in early March this year.

A spokesman told WWD at the time that this is related to the sustainable development of business.

When the group was bought in 2012, the imbalance between employee positions and company output was very obvious.

He explained that customer demand changed after the 2008 economic crisis.

They are more concerned about different fashion areas, such as casual clothes and sportswear.

A Milan analyst said that last year, Brioni revenue fell to 20 million euros (22 million 200 thousand US dollars) to 190 million euros (about 211 million U.S. dollars), mainly due to the decline in the wholesale level, and claimed that the company was operating at a loss before the interest rate tax.

In February of this year, Brioni split up with creative director Brendan Mullane and appointed MyTheresa before last month.

Purchasing director Justin OShea is the successor.

Bottega Veneta executive Gianluca Flore took the position of Brioni CEO in the autumn of 2014.

Flore succeeded Francesco Pesci, who has been in charge of the company for nearly 15 years.