Liz Claiborne Inc. said Wednesday it plans to cut 600 to 800 jobs and is considering whether to sell 16 brands in an effort to cut costs and focus on profitable fashion lines. Under its restructuring plan, the apparel designer and marketer expects to save $100 million in 2008 and an additional $90 million over the following two years. It plans to cut 600 to 800 jobs, or 7 percent to 9 percent of its non-retail based global work force, including cutting senior positions. The brands under review account for about $800 million of its projected annual sales of $5 billion. The company will separate its brands under two operating segments.
See "Liz Claiborne to cut jobs, reviewing 16 brands", Associated Press, International Herald Tribune, July 10, 2007