JC Penney To Close 152 Stores, Cut 1,500 Jobs

JC Penney Stock Plunges After Poor Q1 Earnings Report

JC Penney Stock Plunges After Poor Q1 Earnings Report

JC Penney is cutting 1500 jobs and closing 152 stores as it works to come out of Chapter 11 bankruptcy protection and survive the pandemic.The company started back in 1902 and was having in trouble before COVID-19. Revenue has fallen more than 40-percent over the last 13 years. Cuts will range from field management, corporate and international staff.

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