Thursday, November 5, 2009

Signs of economic recovery saves jobs at Prada

An unexpected ten percent surplus in orders has led Prada to shortening lay-off periods on some staff members as the company sees signs of recovery from a crippling global economic downturn, reports Reuters.
"The company is extremely pleased to identify the first signs of the market's recovery that allow it to schedule a speedy return to full production," said Miuccu Prada's Italian based fashion house in a statement.
Workers reportedly began returning to work on Monday after a lay-off that was expected to last at least six weeks. Consequently the period has been shortened by three weeks.
Versace, on the contrary, is reportedly expecting to report a loss as the economic crisis continues to bite.

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