J.C. Penney Lays Off 1,000 Employees

On April 5, J.C. Penney terminated approximately 1,000 employees, according to its latest filing with the SEC.

The employees primarily worked in Penney’s Plano, Texas, home office, and its Pittsburgh, Penn., customer call center, which will be closed.

J.C. Penney spokespeople did not return a request for comment by JCK on whether any employees in its jewelry department were impacted.

The company said the announcement is part of its plan, announced on Jan. 26, to reduce annual expenses by $900 million by the end of 2013. This includes $200 million in savings from its corporate headquarters, as well as $400 million in cost savings in store operations, and $300 million in advertising expense savings.

“We are going to operate like a start-up,” said CEO Ron Johnson in a statement. “Often in business, companies must streamline in order to leap forward. In our case, this has involved some very difficult decisions that have had an impact on many of our associates.”