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J.C. Penney (JCP) will fire at least 10% of its employees at its home office, according to...

J.C. Penney (JCP) will fire at least 10% of its employees at its home office, according to inside sources. The retailer reportedly delayed making the cuts until February in order to push the severance costs into the current fiscal year. More JCP drama could unfold later today with Ron Johnson set to be interviewed on CNBC. JCP -3.1% premarket.
Comments (16)
  • Chris DeMuth Jr.
    , contributor
    Comments (4188) | Send Message
     
    Including Mr. Johnson?
    6 Feb 2013, 08:16 AM Reply Like
  • SMRoss8
    , contributor
    Comments (25) | Send Message
     
    Not likely, but the right question if 10% of staff have to pay for misguided strategy with their jobs.
    6 Feb 2013, 08:30 AM Reply Like
  • mullman
    , contributor
    Comments (3) | Send Message
     
    A shame that the board has allowed this guy to destroy such a historic retailer. He has used the company as a playground for his egotistical ideas.....at a tremendous cost to quite a few people.
    6 Feb 2013, 09:07 AM Reply Like
  • retailgirl
    , contributor
    Comments (123) | Send Message
     
    Amen. It's just wrong that the employees have to pay for this idiot's mistakes. God will not let RJ prosper. This is wrong.
    6 Feb 2013, 07:23 PM Reply Like
  • isis22
    , contributor
    Comment (1) | Send Message
     
    I was a long-time employee of JCPenney (over 25 yrs) and have seen many changes over the years. This has to be the worst. The "old-timers" are being replaced w/ young kids who don't even want to work. There used to be pride in our work. Now, no one cares. Moral is horrible. Full-timers hours are cut to below 20, positions are being eliminated w/o warning and over the phone. It's terrible.
    The CEO needs to listen to the long-time employees. We're on the floor and know what the customer wants and doesn't want.
    JCPenney doesn't even resemble the store it once was.
    7 Feb 2013, 02:23 AM Reply Like
  • LibertyCampaign
    , contributor
    Comments (506) | Send Message
     
    JCPenney used to pay the highest wage in the Mall, much higher than Macy's that try to put on a higher class. People see through the fakeness. JCPenney was a real company that cared for their workers. Now they are more focused on revamping their store with their social agendas, and forgetting what really kept JCPenney alive for over 100 years...quality clothes at a great price! Now they sell hideous clothes at a ridiculous price. Why Ron though selling designer brand clothing for a premium was a good idea in a recession/depression is a example of his tunnel vision. If they went back to their golden rule, ripped the names off the clothing, and competed with even discount outlets, then JCPenney would prosper once again...
    1 Mar 2013, 12:03 PM Reply Like
  • smurray21
    , contributor
    Comment (1) | Send Message
     
    What time will Ron Johnson be appearing on CNBC?
    6 Feb 2013, 09:55 AM Reply Like
  • Billy Walsh
    , contributor
    Comment (1) | Send Message
     
    What time will the Retail Killer be on CNBC?
    6 Feb 2013, 11:45 AM Reply Like
  • Alibifarm
    , contributor
    Comments (6) | Send Message
     
    Why watch Ron Johnson when all he will do is lie like he has done to everyone, public and investors alike. He is a snake and the worst kind of one. He is not environmentally friendly!!!! Lol
    6 Feb 2013, 11:52 AM Reply Like
  • retailgirl
    , contributor
    Comments (123) | Send Message
     
    touche!
    6 Feb 2013, 07:24 PM Reply Like
  • gmom3
    , contributor
    Comments (132) | Send Message
     
    It looks like the interview is on Feb 6th at 3PM.
    6 Feb 2013, 02:38 PM Reply Like
  • GeorgeMason
    , contributor
    Comments (129) | Send Message
     
    Nothing new.
    6 Feb 2013, 05:34 PM Reply Like
  • GeorgeMason
    , contributor
    Comments (129) | Send Message
     
    Just read in addition to the roughly 300 workers at the home office and 1000 receptionists in the salons 200 designers and product-development specialists who produce Penney’s private brands are slated for pink slips. They are bleeding cash, finishing the 3rd quarter with just half of the $525 million in cash they had a year earlier.
    6 Feb 2013, 06:47 PM Reply Like
  • BuyingRetail
    , contributor
    Comments (7) | Send Message
     
    Wouldn't the 200 designers and product-development people be part of the home office number? That's where they work right?
    7 Feb 2013, 07:50 PM Reply Like
  • João_PT
    , contributor
    Comments (6) | Send Message
     
    Go Ron Johnson!! We believe in you!! Don´t listen these crowd clinging to the past, out of ideas....
    7 Feb 2013, 02:55 AM Reply Like
  • LibertyCampaign
    , contributor
    Comments (506) | Send Message
     
    Why do you support a legacy killer? Name one thing he did right for this company?
    1 Mar 2013, 12:06 PM Reply Like
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