US: JC Penney coy on potential job losses
US department store retailer JC Penney has remained coy on reports it is to axe a further 300 jobs at its headquarters in Plano, Texas.
The retailer plans to lay off 10% of its 10,000 employees in Plano, according to the New York Post. The job cuts were due last month but CEO Ron Johnson decided to delay the move until the company's fiscal year ended last week, the report added.
However, when contacted by just-style today (8 February), a spokesperson for JC Penney said: "We do not comment on rumour or speculation."
Despite ongoing efforts to try to turnaround its business, JC Penney saw its third-quarter sales slide to US$2.9bn. The company is due to release its fourth-quarter and full-year results this month.
Unveiling a new five-year plan to improve worker safety at the factories in Bangladesh that produce their clothing, North American brands and retailers were keen to stress the similarities between the...
Department store retailer JC Penney has disputed reports that commercial lender CIT has stopped financing deliveries from smaller manufacturers to its stores....
One of Pakistan's largest textile companies, Nishat Chunian Limited, has acquired Taj Textile Mills in a deal worth PKR350m (US$3.4m)....
A group of leading North American retailers and brands - led by Wal-Mart and Gap - have committed more than $142m in funding and low interest loans to help improve factory safety conditions for garmen...
Chief technology officer Kristen Blum has been named as the latest executive to leave struggling department store retailer JC Penney....
Department store retailer JC Penney has secured a five-year US$2.25bn loan - $500m more than it originally expected - as it looks to turn its struggling business around....
- M&S project benefits garment worker health
- M&S to launch supply chain human rights policy
- Leveraging the business benefits of 3D design
- Bangladesh woos buyers with sustainable production
- Compliance in China continues to improve
- Myanmar makers mull shut-downs over wage plans
- American Apparel to close stores and cut jobs
- Cotton tracing "biggest challenge" for M&S
- Chinese shoe factory collapse kills 12
- Lee ReThink taps into sustainable supply chain