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Liz Claiborne Planning Job Cuts: Reports

Apparel maker Liz Claiborne is planning job cuts that could total as much as 10% of its workforce, the New York Post reported on its Web site on Tuesday.

The announcement, part of an overall strategic review expected within the next few weeks, would target positions across all levels of the company, the Post reported, citing unnamed sources.

Liz Claiborne
Liz Claiborne

The company had 17,000 full-time employees worldwide as of December, the paper said. Chief Executive William McComb is expected to make the results known on July 11, it said.

The paper said that one likely outcome of the review was a smaller footprint for Liz Claiborne, with McComb identifying five brands worthy of investment -- Juicy Couture, Lucky Brand, Kate Spade, Mexx and Liz Claiborne.

No one at Liz Claiborne could be reached immediately for comment.

Liz Claiborne reported a 65% drop in quarterly profit on May 1, citing falling demand for its traditional upscale brands like Dana Buchman and consolidating department stores that increasingly promote their own private labels.

McComb, who took the reins at Liz Claiborne late last year, has said the company must "radically address" its cost structure and invest in new capabilities.