J.C. Penney Co. Inc. said on Wednesday it would cut about 1,000 jobs and shutter 152 stores as the U.S. department store chain looks to emerge from Chapter 11 protection and the COVID-19 crisis.
The layoffs would impact corporate, field management, and international roles and eligible departing employees would receive a severance package. The company is also in talks with its landlords regarding store closures.
Penney filed for bankruptcy protection in May, with plans to explore a possible sale, joining a spate of brick-and-mortar retailers to crumble under the pressure brought on by the COVID-19 pandemic.
These closings are included in previously announced closings: 148 stores on June 4, 11 on June 22, and two on July 7. None the stores on the closing list are in the St. Louis area.
On Tuesday, Calvin Klein owner PVH Corp. also announced a reduction in the number of office employees.
Editor’s note: This story was corrected to reflect that these 152 stores announced today are included in previous closure lists.
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