#JCPenney to cut 1,000 jobs, shutter 152 stores
“#JCPenney to cut 1,000 jobs, shutter 152 stores”
July 15, 2020 | 4:09pm
The layoffs would affect corporate, field management, and international roles and eligible departing employees would receive a severance package. The company is also in talks with its landlords regarding store closures.
Penney filed for bankruptcy protection in May, with plans to explore a possible sale, joining a spate of brick-and-mortar retailers to crumble under the pressure brought on by the COVID-19 pandemic.
On Tuesday, Calvin Klein owner PVH Corp. also announced a reduction in the number of office employees.
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