Claiborne plans belt-tightening; Company will reduce dependence on department stores, grow its...

Byline: Elisabeth Butler Cordova

Liz claiborne executives are expected to announce plans to sell some of the company's well-known brands and institute large job cuts at a long-anticipated investor meeting on Wednesday.

The moves are designed to reduce the company's dependence on department stores. New Chief Executive William McComb is also likely to reveal plans to grow the company's "power brands''--Juicy Couture, Lucky, Mexx and Kate Spade--which are primarily sold through its own stores.

"Post restructuring, Liz will transform from a merger and