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."

JC Penney axed around 600 jobs at its corporate headquarters last April. Three months later, the company cut another 350 jobs at its HQ as part of an ongoing restructuring of its business.

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.