J.C. Penney Scraps 350 More Positions at Corporate Headquarters
PLANO, Texas-J.C. Penney has eliminated 350 additional positions in its corporate headquarters here, finishing off the restructuring of the corporate it announced in late January.
The new round of layoffs is in addition to the 900 positions, comprising both the headquarters and the closing of a call center in Pittsburgh, that were eliminated in April. In a statement, J.C. Penney said the corporate-office restructuring "is now fundamentally complete." The company also said the layoffs will contribute to its efforts to reduce expenses by $900 million by the end of this year, one year ahead of its original plan.
CEO Ron Johnson said the "right-sizing" of the headquarters was necessary as J.C. Penney progresses toward aligning its executive team with its new business model. "We have simplified processes, removed unnecessary work and reduced layers to help us make better and faster decisions," Johnson said.