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J.C. Penney Cuts Corporate Staff by 1,000, Mostly at its Plano Headquarters

The Penney staff cuts came the same day the retailer and its lenders told the U.S. Bankruptcy Court that they have agreed to more time to negotiate the future of the 118-year-old department store chain

Photo taken on June 5, 2020 shows the logo of a closed J.C. Penny store in Music City Mall in Lewisville, Texas, the United States. U.S. department store chain J.C. Penney on Thursday announced to close 154 stores. More stores are to be closed in the following weeks, said the Texas based company in a release. Last month, J.C. Penney filed bankruptcy protection due to the impact of COVID-19.
Dan Tian/Xinhua via Getty

J.C. Penney said Wednesday that it has cut 1,000 corporate jobs, most of them at its Plano headquarters, to match its smaller store count.

As part of its bankruptcy reorganization, Penney is closing 152 of its 846 stores. Some of the jobs eliminated were field management positions and ones in international offices. Most of the workers who were fired are eligible for severance and will receive health care benefits through Sept. 30, outplacement support, compensation for unused paid time off and extended associate discounts.

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