J.C. Penney will cut 2,000 jobs and close 33 stores as it tries to turn its business around. Out of the department stores in KELOLAND, the only one in our area closing is in Worthington, Minnesota at the Northland Mall.
The cuts should save the company more than $65 million annually. All the job cuts are related to the store closings.
J.C. Penney is trying to recover from poor sales under former CEO Ron Johnson. The company brought back CEO Mike Ullman in April.
Here's a link to planned store closings: http://ir.jcpenney.com/phoenix.zhtml?c=70528&p=irol-newsCompanyArticle&ID=1891155&highlight=