Benetton Group has announced a "transformation plan" that will be executed by cutting 450 jobs, 228 of whose done between their offices in Ponzano Veneto and their logistic pole in Castrette di Villorba, and - at the same time - by hiring 280 new people who will become part of their whole Italian retail network.

Despite rumours regarding the cutting of around 100 jobs, the operation has been more drastic than expected, according to local newspapers. The cut will involve approximately 100 product developers, as well as many technicians and other employees.

Benetton also explained that they will cut contracts with approximately 135 garment manufacturing laboratories, mostly based in the Veneto region.

The reason for the initiative has been mostly forced by the decreased consumption within relevant markets for the company such as Italy and Spain.