(Filed Under Fashion News). Liz Claiborne Inc. has announced cost reduction initiatives that will result in the elimination of approximately 725 positions, or eight percent of its U.S. workforce.
“The challenging retail and economic environment requires us to remain more focused than ever on cost rationalization and act decisively to manage the relationship between our revenue and our SG&A,” said William L. McComb, chief executive officer of Liz Claiborne Inc. “As we strive to enhance our liquidity and prudently manage our business through this uncertain time, business leaders across our organization are continually reviewing all costs and determining where they can make an impact. Personnel decisions are always the hardest, especially in times like these. And while reducing head count is not the only cost cutting measure being implemented, it is certainly the most difficult.”
This announcement follows the company’s previously reported closing of its distribution center in Mt. Pocono, Pennsylvania and the suspension of merit pay increases for all employees.
The positions being eliminated span all levels of the company and are scheduled to be completed by the first quarter of fiscal 2009.see more
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