When a garment factory in London lays off 150 workers, workers pay out $4.5 million in rent.
The workers, who are all unemployed, were offered up to 30 weeks of unemployment benefits by the company, which has now laid off 80 workers.
The factory, which makes clothing for the luxury department store Louis Vuitton, has been closed for two months due to “a structural issue” and it has been forced to “lay off 150 employees,” the company said.
The workers have been laid off “for the sake of our operations, safety, productivity, and quality of our products.”
The workers were hired in August of 2016 by the Garment Processing Ltd (GPL) group, a garment processing company that operates at a factory in central London, according to its website.
The company has been running at a loss since 2016.
The employees of the factory, who work from 8am to 6pm every day, will receive a one-time payment of up to $5,600, plus an initial payment of $4 million, as part of the compensation package.GPL, which operates at the same site as the luxury fashion house, is a subsidiary of LVMH, the luxury retailer.
The firm was founded by two of Louis Vuoch’s designers, Jérôme Breguet and Yves Saint Laurent, in 1992.
The company was once considered one of the biggest players in the world of garment processing.
It was founded in 1995 by three men, including two of the designers.
The three men are Philippe Breguer, Philippe St-Pierre, and Philippe Proulx.