Dsquared2 to Lay Off 40 Employees as Fashion Downturn Hits

Dsquared2, the Milan-based label founded by Canadian twins Dean and Dan Caten, said on Monday it is laying off about 40 employees as it contends with the downturn that has sapped revenue and profit across the industry.

The layoffs will affect people across the company’s offices and are expected to be completed by early next year, Dsquared2 said in a statement. The company, which this year celebrated its 30th anniversary, didn’t say how many employees it has and didn’t immediately…