Published
Oct 22, 2012
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Sixty to see drastic reduction in workforce

Published
Oct 22, 2012

Asian investment firm Crescent Hyde Park, having acquired the almost-bankrupt Sixty group last May, have proposed a rescue plan that would mean drastically reducing the groups workforce.

According to the Italian press, the company has been in talks since September considering a plan which envisages forming a new company, keeping on only 50 of the currently 400-strong workforce. The plans foresees the closure of many Sixty stores with just 20 out of 60 to be kept open, meaning 150 of the company’s 250 retail staff could be losing their jobs. A meeting to discuss the issue has been scheduled for 29 October.

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