Racked is no longer publishing. Thank you to everyone who read our work over the years. The archives will remain available here; for new stories, head over to Vox.com, where our staff is covering consumer culture for The Goods by Vox. You can also see what we’re up to by signing up here.
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]