J.C. Penney's new owners cut 650 jobs as the retailer looks for a permanent Texas headquarters
J.C. Penney has cut 650 jobs in stores, field operations and corporate, or about 1.5% of its workforce of more than 50,000.
About 100 of those jobs were from Penney’s Texas-based corporate staff of 3,500 people. The cuts were made last week and included the elimination of open positions. Employees were offered alternative positions when possible, Penney said.
Penney filed for bankruptcy a year ago and exited Chapter 11 in December, when the operating company was sold to its two largest landlords, Simon Property Group and Brookfield Asset Management.
As part of its bankruptcy reorganization last year, Penney closed more than 150 stores, eliminated distribution centers and cut back corporate staff. It entered bankruptcy with 85,000 employees and 846 stores and now has 650 stores.
Read more: https://www.dallasnews.com/business/retail/2021/05/04/j-c-penneys-new-owners-cut-650-jobs-as-the-retailer-looks-for-a-permanent-texas-headquarters/
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