J.C. Penney Lays Off 350 at Home Office

J.C. Penney announced a third round of layoffs, with 350 people cut from its Plano, Texas, home office.

This follows a first round of home office layoffs, as well as another round of layoffs at the store level.

In a statement, CEO Ron Johnson said this was the “final phase” of the home office restructuring.

“We have simplified processes, removed unnecessary work and reduced layers to help us make better and faster decisions,” said Johnson in a statement. “While difficult, these decisions are in the long-term interests of jcp and our stakeholders.”