(Liz) Claibourne Targets Huge Layoffs, Store Closings [View All]

[UpInArms]

Source: New York Post Business Page

May 29, 2007 -- Liz Claiborne executives are bracing for a bloodletting - part of an overall-strategic review to be unveiled later this summer - The Post has learned.

The sizable job cuts, expected within the next few weeks, are said to be across all levels of the company and could total as much as 10 percent of the work force, sources said. Liz Claiborne employed 17,000 full-time staffers worldwide as of December, according to its most recent annual report.

A Liz Claiborne spokeswoman declined to comment on the potential layoffs, but the company alluded to "additional streamlining" when it reported first-quarter earnings earlier this month.

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Liz Claiborne recently reported a 65 percent decline in first-quarter earnings and lowered full-year results, mainly because of a shortfall in department store orders.

Read more: http://www.nypost.com/seven/05292007/business/liz_losing_lines_business_suzanne_kapner.htm