J.C. Penney Cutting 2,200 Jobs as Sales Plunge

[Purveyor]

J.C. Penney Co. (JCP) is cutting an additional 2,200 jobs to trim costs as Chief Executive Officer Ron Johnson’s revamp of the department-store chain causes sales to plunge.

The positions to be eliminated include back-office administrators in stores and district offices as well as store leadership positions, Joey Thomas, a spokesman, said in an e- mail yesterday. About 10 percent of J.C. Penney’s 1,100 stores cut their headcounts because of sales volume shifts, he said.

Johnson said last week that 19,000 J.C. Penney employees have lost their jobs in the past year as his turnaround struggles to gain traction. The retailer’s revenue fell 25 percent to $13 billion in the year ended Feb. 2, the lowest since at least 1987. Customers have been alienated by marketing missteps, a failed attempt to transition away from sales and coupons and Johnson’s plan to turn most stores into collections of boutiques.

“As with any reduction in force, we do our best to absorb those impacted into other positions if they choose to do so,” Thomas said. “Impacted team members were given 30 days notice, so their last day would not be effective until April 6. Those who are benefits eligible will receive a severance package and outplacement assistance,” he said.

MORE...

http://www.bloomberg.com/news/2013-03-07/j-c-penney-cutting-2-200-jobs-as-sales-plunge.html

[Frustratedlady]

1. He's trying to make Penney's into something it never was...

If he'd bring back Cabin Creek, as thousands of women have requested, he'd draw back the women. Many have left Penney's because of that...including me.

He's plying for the pre-teen/teen/young ladies' business, but he isn't going to get it.

[Berlum]

2. You cannot find a freaking clerk at Penney's now

The cuts will make that worse.

RepubliThink stinks.

[liberal N proud]

3. Penney's is a sinking ship

[Purveyor]

5. I'm afraid you are right. Too late now... eom

[FarCenter]

6. Any Penney employee who can get a job elsewhere should be gone by now.

Never be the last employee to turn out the lights.

[liberal N proud]

7. I had a family member who was in the home office did just that last month

She saw this coming.

[Lydia Leftcoast]

4. They are shrinking the departments that I would actually buy stuff from

For example, they have a size and type of pantihose (which I sometimes have to wear) that fits me perfectly. But their hosiery department seems to get smaller and smaller each time I go there, as if they're trying to sell it off.

[Dawson Leery]

8. "Turn around"? Johnson is killing the company.

Which is to be expected from people such as he.