Headlines

Penney Roll

47 stores, 5300 jobs will be eliminated in six months

Published

23 years ago

January 26, 2001

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J.C. Penney (Plano, Texas), which had said earlier that it would be closing “about 50 stores,” revealed the details of its plan today. The cutback will involve 47 store closings – 44 department stores and three catalog outlets – and 5300 jobs (about 2 percent of its workforce) – 5000 in-store jobs and 300 headquarters jobs. The company, with a chain of about 1100 stores, said the cutbacks will occur during the first six months of the year.

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