Safilo, Now Overstaffed, Lays Off 1000

At a recent meeting with its trade unions and workers’ representatives, Safilo's management team said that it will eliminate 1000 "preliminary redundancies" as a result of the loss of its Armani license. The company will negotiate with workers' union and representatives to identify the best industrial and organizational structure for the future. All parties have agreed upon to a series of meetings, between now and the end of May, to examine the situation. They also agreed to identify solutions to ensure the best possible management of the overstaffing problem. Its sales for the first quarter of 2012 were down four percent.