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J.C. Penney to Close 33 Stores and Cut 2,000 Jobs
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It was announced on Wednesday that J.C. Penney Co. will close 33 of its stores, cutting 2,000 jobs, according to The Wall Street Journal.

Earlier this winter, the store refused to releases its holiday sales information, but did say publicly that it was happy with the sales numbers from the holiday season.

  
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Prior to the cuts, the company employed 116,000 staffers across more than 1,100 stores.

The announced cuts should save the company close to $65 million annually. The company is planning to take on $26 million in pretax charges for the third quarter. Then, the company will take on $17 million in future quarters.

The full list of stores being shuttered include the following:

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State City Shopping Center
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IA Muscatine Muscatine Mall
IL Bloomingdale Stratford Square Mall
IL Forsyth Hickory Point Mall
IN Marion Five Points Mall
IN Warsaw Marketplace Shopping Center
MD Salisbury The Centre at Salisbury
MI Marquette Westwood Plaza
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VA Bristol Bristol Mall
VA Norfolk Military Circle Mall
WI Fond Du Lac Forest Mall
WI Janesville Janesville Mall
WI Rhinelander Lincoln Plaza Center
WI Rice Lake Cedar Mall
WI Wausau Wausau Mall



 

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