JCPenney to cut 1000 jobs, close 152 stores

J. C. Penney Company, Inc. is aligning its workforce with its store optimization strategy and reduced store footprint. The company said in a statement that JCPenney has identified 152 store closures following a comprehensive evaluation of store performance and strategic fit for the company and is having ongoing negotiations with landlords. In connection with this organizational realignment, the company has decided to reduce its workforce by approximately 1,000 corporate, field management, and international positions.