Several sources indicate that Italian fashion label Dolce & Gabbana may cut 1,000 jobs. Most cuts would take place in the factories in Legnano and Incisa, with a small round of job cuts at its main office in Milan.
Dolce & Gabbana IPO
These job cuts should help lower costs, while the new board prepares the fashion label's IPO. According to several sources, former Gucci CEO, Patrizio di Marco, is leading the preparations.
Di Marco joined Dolce & Gabbana's board in May and is also an independent advisor, but his role within the company may prove larger than previously anticipated. Apparently, he is also in control of the company's IPO preparations.
"Gucci's former president and CEO is the mastermind behind the 1,000 jobs lost at Dolce & Gabbana", an insider told WWD. Union talks about the job cuts should take place in September. Currently, Dolce & Gabbana employs about 4,500 people.