There is no ALTER TABLE ... DROP COLUMN in DB2 for LUW.
However, in version 8.2 (I am using FP 8) the Control Center has a function to drop a column.
I believe that it automatically exports the data, drops the table, recreates the table and keys without the column to be dropped, and reloads the data. It uses a stored procedure with multiple input parameters to do this. You could look at the SQL it generates and do this in batch.