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January 29, 2002

USA: Clothing Designer Liz Claiborne To Cut Jobs

Leading clothing designer and retailer Liz Claiborne Inc said today it will axe an unspecified number of jobs in a move that will see it take a fourth quarter pre-tax charge of up to $17 million. The company revealed the job cuts in a statement in which it forecast its fourth quarter earnings will be just above analysts' consensus estimate and predicted sales will be up by 16-17 per cent for the quarter and 11 per cent for the year.

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