According to report in the New York Post, Liz Claiborne (LIZ) is about to cut 10% of its workforce. The company has 17,000 employees.

The move is probably a very good idea. The stock trades near its 52-week low, changing hands at $33.44 down from $46.84 hit in February of this year. UBS recently downgraded the stock to "neutral".

In the last quarter, LIZ net income dropped from $50 million a year ago to $16 million in the most recent quarter.

Douglas A. McIntyre