JC Penney Layoffs Target Some Permanent Staff -NY Post

Date : 01/23/2012 @ 11:07AM
Source : Dow Jones News
Stock : J.C. Penney Company Holding Company (JCP)
Quote : 5.38  -0.07 (-1.28%) @ 8:00PM

JC Penney Layoffs Target Some Permanent Staff -NY Post

JC Penney (NYSE:JCP)
Historical Stock Chart

5 Years : From Apr 2012 to Apr 2017

Click Here for more JC Penney Charts.

In addition to its expected layoffs of thousands of seasonal workers, J.C. Penney Co. (JCP) will make cuts to its permanent staff at almost all of the retail chain's 1,200 U.S. stores, the New York Post reported Monday, citing sources.

The move is part of a broader restructuring initiative. Earlier this month, the company announced that it would be closing some stores and consolidating its support operations, Dow Jones Newswires reported.

Penney's two largest shareholders, Pershing Square Capital Management head William Ackman and Vornado Realty Trust (VNO), are said to be pressing Chief Executive Ron Johnson, who is credited with establishing Apple Inc.'s (AAPL) retail strength, to slim down the operation, the Post reported.

Full story at http://www.nypost.com/p/news/business/penney_pinchers_HM6H3lqDL0FlxTzaeqnSMN

-Dow Jones Newswires; 212-416-2900


Your Recent History
Gulf Keyst..
FTSE 100
UK Sterlin..
Stocks you've viewed will appear in this box, letting you easily return to quotes you've seen previously.

Register now to create your own custom streaming stock watchlist.

NYSE, AMEX, and ASX quotes are delayed by at least 20 minutes.
All other quotes are delayed by at least 15 minutes unless otherwise stated.