PLANO, Texas–(BUSINESS WIRE)–J. C. Penney Company, Inc. (OTCMKTS: JCPNQ) today announced that it is aligning its workforce with its store optimization strategy and reduced store footprint. JCPenney has identified 152 store closures following a comprehensive evaluation of store performance and strategic fit for the Company and is having ongoing productive negotiations with landlords.
Todays announcement follows a lengthy, structured, and thoughtful decision-making process. In connection with this organizational realignment, the Company will reduce its workforce by approximately 1,000 corporate, field management, and international positions.
Each of these associates has made valuable contributions to the legacy of JCPenney, and we ar…
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