By  on February 3, 2009

Cost cuts continued at Liz Claiborne Inc. Tuesday, and Wall Street awarded the moves with a 8.4 percent rise in its stock price.

The company, which has already reduced spending by at least $265 million since 2007, is eliminating about 725 positions, or 8 percent of its U.S. workforce, suspending merit pay increases for all employees and closing its distribution center in Mount Pocono, Pa.

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