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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsJ. C. Penney is closing 140 stores and laying off 6,000 workers. Where's Drumpf?
JC Penney to close up to 140 stores over the next few months.
HOLYOKE -- Faced with a general decline in brick-and-mortar retail sales, JC Penney announced Friday that it will shut down 130 to 140 stores in the next few months, costing more than 6,000 jobs.
Penney's has stores in both the Holyoke Mall at Ingleside and at the Hampshire Mall in Hadley. A list of the stores to be closed won't be released until March, the company said.
"We understand that closing stores will impact the lives of many hard working associates, which is why we have decided to initiate a voluntary early retirement program for approximately 6,000 eligible associates. By coordinating the timing of these two events, we can expect to see a net increase in hiring as the number of full-time associates expected to take advantage of the early retirement incentive will far exceed the number of full-time positions affected by the store closures," said Marvin R. Ellison, chairman and chief executive officer of JC Penney.
http://www.masslive.com/business-news/index.ssf/2017/02/jc_penney_to_close_130_to_140_stores_ove.html
BeyondGeography
(39,374 posts)And Amazon's going to pay for it.
putitinD
(1,551 posts)samnsara
(17,622 posts)...the huge one in my town is closing....
dawg
(10,624 posts)Getting ready to kill them off with a Border Adjustment Tax, that's where.
pangaia
(24,324 posts)No reflection on you, Democrat, but that guy's word salad has my eyes rolling.
They will fire people, PEOPLE, BTW not ASSOCIATES, then hire more people?? Huh..
Motownman78
(491 posts)Is that they figure so many will take early retirement that they will be able to hire some new people. If 6,000 jobs are being eliminated, but 8,000 associates take early retirement, than you need to hire 2,000 new associates.
yeoman6987
(14,449 posts)Only thing better would be a Starbucks closing. These folks are nasty.
DemocratSinceBirth
(99,710 posts)Response to DemocratSinceBirth (Reply #8)
Post removed
Kingofalldems
(38,456 posts)Where do you get this nonsense?
Kingofalldems
(38,456 posts)shenmue
(38,506 posts)I live in Florida.