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Fri Apr 6, 2012, 08:51 AM

JCPenney to cut 900 jobs in Texas and Pittsburgh


(Reuters) - J.C. Penney Co Inc said on Thursday that it will cut about 900 jobs, including roughly 600 at its headquarters, as it trims costs and tries to start running its 110-year-old business more like a nimble start-up.

The Plano, Texas-based retailer, which has already overhauled its pricing strategy under new chief executive Ron Johnson, said it plans to close a customer call center in Pittsburgh, affecting about 300 employees.

The roughly 600 workers being let go in Plano represent about 15 percent of the staff at the company's main office.

"We are going to operate like a start-up," said Johnson, a former Apple Inc and Target Corp executive. "Often in business, companies must streamline in order to leap forward." .................(more)

The complete piece is at: http://www.reuters.com/article/2012/04/05/us-jcpenney-idUSBRE8340WQ20120405



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Reply JCPenney to cut 900 jobs in Texas and Pittsburgh (Original post)
marmar Apr 2012 OP
liberal N proud Apr 2012 #1
HughBeaumont Apr 2012 #2
SammyWinstonJack Apr 2012 #5
SomethingFishy Apr 2012 #8
SammyWinstonJack Apr 2012 #9
HughBeaumont Apr 2012 #10
bart95 Apr 2012 #3
SammyWinstonJack Apr 2012 #4
Javaman Apr 2012 #6
Rex Apr 2012 #7
Zalatix Apr 2012 #11

Response to marmar (Original post)

Fri Apr 6, 2012, 09:03 AM

1. I am worried about my niece who works in Plano

I almost took a job with Penney's a few years ago.

They have already made some deep cuts in Plano with management.

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Response to marmar (Original post)

Fri Apr 6, 2012, 09:11 AM

2. "I mean, yes it's unfortunate, but that's a sacrifice I'm willing to make! They'll bounce back!"

All for a savings of 90 million.

How many jobs could have been saved by trimming exorbitant executive salaries?

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Response to HughBeaumont (Reply #2)

Fri Apr 6, 2012, 09:15 AM

5. How much is Ellen being paid? How many jobs did that cost?

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Response to HughBeaumont (Reply #2)

Fri Apr 6, 2012, 09:25 AM

8. The CEO who only worked 2 months last year before leaving got...

53 Million.. for 2 months work.


Behind the scenes at Penney, the top guy gets very high pay every day. Ronald Johnson, brought in as CEO on Nov. 1, spent just two months as chief last year. But he pulled down what was surely one of the biggest CEO salaries for 2011, topping most of those who toiled all 12 months.

Johnson got an impressive $53 million, along with $13,000 worth of personal use of the corporate jet. For managing to make so much in just 61 days -- while his company touted a thrifty new strategy -- I'm making Johnson my "One Percenter of the Week."


http://money.msn.com/investing/jc-penney-ceo-dollar53-million-in-2-months

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Response to SomethingFishy (Reply #8)

Fri Apr 6, 2012, 09:27 AM

9. Obscene and Disgusting!

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Response to SomethingFishy (Reply #8)

Fri Apr 6, 2012, 10:56 AM

10. See? It's gotta be lotteries or nothing.

Fire some workers and . . . fire some workers . . . . pay me my lottery millions, assholes.

Corporate America: Don't You Bitches have CHECKS to Write??

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Response to marmar (Original post)

Fri Apr 6, 2012, 09:12 AM

3. youtube

 

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Response to marmar (Original post)

Fri Apr 6, 2012, 09:13 AM

4. Operate like a start-up and pay Ellen major bucks as its spokesperson while shedding 900 jobs.

WTG J. C. Penney

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Response to marmar (Original post)

Fri Apr 6, 2012, 09:16 AM

6. I give JC Penny's two more years.

There was a local JC Penny's in my neighborhood when I was a kid. My mom bought all my school clothes there when I in elementary school in the '60's.

Sadly, times change and online juggernauts such as amazon and big box stores like china-mart have slowly destroyed dept stores such as Penny's.

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Response to marmar (Original post)

Fri Apr 6, 2012, 09:21 AM

7. I don't think Sears is going to make it either.

nt.

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Response to marmar (Original post)

Fri Apr 6, 2012, 10:58 AM

11. Got a passport?

 

Move to India, I bet JC Penney is hiring there.

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