JCPenney Eliminates 350 Headquarters Positions
July 11, 2012
Plano, Texas-based J.C. Penney Co. Inc. has announced its restructuring efforts, which started in April of this year, are fundamentally complete. This final phase includes the elimination of 350 positions at the company’s Plano, Texas headquarters.
“One of the most challenging tasks for any leadership team is to reorganize a company,” says company CEO Ron Johnson. “We have simplified processes, removed unnecessary work and reduced layers to help us make better and faster decisions.”
The estimated savings generated by this announcement will contribute to the company’s goal to achieve an annual run rate of $900 million in expense savings by the end of this year. There are currently 1,100 JCPenney stores nationwide.