J.C. Penney letting go of 300 at HQ
Headquarters layoffs are spreading throughout the retail industry with J.C. Penney joining Walmart and Dollar General in making deep cuts to its non-store workforce.
The department store retailer on Thursday said it planned to cut 300 of its 3,400 home office positions to reduce expenses and achieve financial targets.
In a statement attributed to spokesman Joey Thomas, the company said: “As J.C. Penney works to achieve its financial growth targets, it is essential that our operations align with the strategic priorities of the company. Over the last several months, the company has been evaluating its home office structure to identify opportunities for greater simplification and higher productivity. 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.”
The move by J.C. Penney follows recent announcements by Walmart to cut 450 positions at its headquarters and an announcement by Dollar General to eliminate 370 positions, including 115 unfilled positions, at its headquarters. The cuts also come as J.C. Penney is in the midst of hiring 30,000 seasonal workers at store level.
Earlier this month, J.C. Penney CEO spoke at a retail conference about where the company is headed and how it plans to get there. Click here to read Retailing Today’s coverage of Ellison’s remarks.
The department store retailer on Thursday said it planned to cut 300 of its 3,400 home office positions to reduce expenses and achieve financial targets.
In a statement attributed to spokesman Joey Thomas, the company said: “As J.C. Penney works to achieve its financial growth targets, it is essential that our operations align with the strategic priorities of the company. Over the last several months, the company has been evaluating its home office structure to identify opportunities for greater simplification and higher productivity. 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.”
The move by J.C. Penney follows recent announcements by Walmart to cut 450 positions at its headquarters and an announcement by Dollar General to eliminate 370 positions, including 115 unfilled positions, at its headquarters. The cuts also come as J.C. Penney is in the midst of hiring 30,000 seasonal workers at store level.
Earlier this month, J.C. Penney CEO spoke at a retail conference about where the company is headed and how it plans to get there. Click here to read Retailing Today’s coverage of Ellison’s remarks.
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