PLANO (WBAP/KLIF News) – JC Penney announced Friday afternoon its cutting more than 300 jobs, including 130 positions from its headquarters in Plano.
In a statement on the Plano-based company’s website, the national retailer announced the that it recently restructured its group, regional, district and store support teams.
JC Penney said the restructuring process eliminated red tape, reduced support positions in addition to redistributing customer-faced positions.
It’s changes the company deemed necessary to manage expenses and keep up with customer shopping habits that are increasingly moving towards online shopping.
The company said although the move allowed the majority of associates affected by the changes to assume new roles within the organization, ultimately 230 positions were eliminated.
The organization also made changes to its executive team.
The cuts are said to save the company $20-$25 million.
JC Penney Chairman and CEO Marvin R. Ellison said despite the cuts the company continues to make progress on its plans to navigate the current trends.
“As the Company continues to make progress on its strategic framework and implement new processes and organizational efficiencies, it is imperative that we maintain a thoughtful approach to managing expenses, while effectively supporting the needs of the business,” said Ellison.
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