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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

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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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