J.C. Penney cuts 9% of hq workforce

[CreditMagic7]

J.C. Penney has cut 300 jobs at its headquarters Thursday October 22, 2015 as it continues its restructuring efforts.

"As the company continues to make progress on its strategic framework and implement new processes and efficiencies, it is imperative that we maintain a thoughtful approach to managing expenses while effectively supporting the needs of the business," said J.C. Penney spokesman Joey Thomas.

The cuts come as part of a larger initiative led by CEO Marvin Ellison to revamp the stores image and sales.

http://www.cnbc.com/2015/10/22/jc-penney-cuts-9-percent-of-headquarters-workforce.html

[mitchblue]

Has to happen from time to time but I hate seeing people lose their jobs. 

[nyancat]

JCP hired a retail genius to rebrand itself, and he made their stores nice, brought in merchandise worth buying, and made the shopping experience pleasant. They were really nice for a short time. They then fired him because all this drove away the few, elderly, slowly dying customers they had left.

Idiots. If Ron Johnson was still in charge I have no doubt JCPenney would be amazing today. JCP went back to their old ways of being rubbish and they're paying the price. Good riddance. Sucks for their employees tho.