Clothing retailer Talbots Inc. said Thursday it will cut 129 jobs, affecting 9 percent of its corporate employees.

The company said the job cuts will include top executive positions, as it seeks to save $14 million a year including a reduction of costs totaling $100 million by the end of this fiscal year.

Shares of Talbots Inc. climbed 8.19 at $8.45 at the closing trading of the New York Stock Exchange on Thursday.