Submitted by WIKY News on Wed, 01/15/2014 - 7:09pm
The Eastland Mall store is staying open, but J.C. Penney will be eliminating 2,000 jobs and closing 33 stores across the U-S as it tries to get back on the path to profitability. The news raises concerns that Penney's holiday season sales were not what the company hoped for, and that the chain needs to do even more to recover from a turnaround plan that has had disastrous results. The cuts should save more than $65 million annually. All the job cuts are related to the store closings, and represent about 3 percent of it's stores and 2 percent of its workforce.