PLANO, Texas – JCPenney will lay off 1,000 employees in several professional spheres, it announced today.
In connection with its organizational realignment under bankruptcy protection, the workforce reductions will encompass corporate, field management and international positions.
“Each of these associates has made valuable contributions to the legacy of JCPenney, and we are truly grateful for their service,” said Jill Soltau, CEO.
As previously announced, JCPenney has already begun liquidation sales at many of the 152 stores it plans to eliminate from the fleet. The company said today it is in ongoing negotiations with landlords, which have been productive.
The retailer’s restructuring plan calls for JCPenney to emerge from Chapter 11 as a smaller, more financially flexible company.
“The global health and economic crisis caused by the coronavirus (COVID-19) pandemic has forced retailers to make difficult decisions. For JCPenney, that includes reducing our footprint and accelerating our store optimization strategy while we implement our Plan for Renewal,” said Soltau.