The new owners of J.C. Penney, Simon Property Group and Brookfield Asset Management, have cut 650 jobs in stores, corporate and field operations, reports The Dallas News. Affected employees were offered alternative positions when possible.
“After months of operational review by our new owners, Simon Property Group and Brookfield Asset Management, J.C. Penney has adjusted our structure to better meet our strategic priorities,” a company email stated. “We have streamlined our organization, resulting in the elimination of positions across our corporate, field and stores teams.”
The cuts, which were made last week, included 100 positions from the retailer’s former Plano, Texas, headquarters. The retailer is still searching for a new space for its corporate offices in the Dallas-Fort Worth area.