J.C. Penney Plans to Close up 140 Stores
J.C. Penney plans to close up to 140 stores and offer buyouts to 6,000 workers as the department store industry sags in competition with online sellers and other retailers.
The cuts come amid mounting challenges for once booming department store chains such as Macy's and Sears, which are aggressively closing stores and shedding costs.
J.C. Penney said it would offer a voluntary early retirement program to about 6,000 workers, including corporate, store and supply chain workers.
Many workers affected by store closures would be hired to fill jobs vacated by employees who accept buyouts. The Lansing State Journal has more details.