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JCPenney Is Closing Stores, Laying Off 2,250 Employees

Photo: Getty Images
Photo: Getty Images

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It's barely a week into the new year and already another retailer is announcing layoffs in the thousands. WWD reports that after an annual review of its stores, JCPenney will be shuttering 40 locations in April. The closings will result in 2,250 employee layoffs. A spokesperson confirms to WWD that those are the only closures planned for this year and there are no new store openings planned yet for 2015.
· J.C. Penney Closing 40 Stores in April [WWD]
· JCPenney Plucks New CEO From Home Depot [Racked]
· Here's JCPenney's Plan for the Future [Racked]