J.C. Penney Co. has begun a voluntary early-retirement program for staff in certain parts of the retailer’s organization. The plan is part of efforts “to accelerate initiatives to enhance
profitability,” a J.C. Penney spokeswoman told the Wall Street Journal. “Were looking at our
organization to make sure we have the right people in the right place.”
The company isnt disclosing how many employees are receiving offers.
The program involves certain staff over 55 years old who participate in the company’s pension plan and have worked at J.C. Penney for at least 20 years. The spokeswoman said more details will be provided when the company reports second-quarter results on Aug. 12.
Separately, J.C. Penney informed the Connecticut Labor Department that 442 workers from its Manchester distribution center would be laid off. The distribution center supports Penney’s online business. J.C. Penney had previously said it was closing the unit.
The company also plans on hiring about 330 people for its store-support operation in Manchester, which provides merchandise to stores.
