JCPenney has cut 650 jobs across its stores, field operations and corporate offices, totaling approximately 1.5% of its workforce, according to The Dallas Morning News. The cuts include 100 workers among JCPenney’s Texas-based staff, many of whom are working remotely while the retailer continues searching for a new headquarters in the Dallas-Fort Worth area.
JCPenney gave up its Plano, Texas headquarters in late 2020. The retailer also closed 242 stores during its restructuring process last year, which culminated in a sale to Simon Property Group and Brookfield Asset Management. The company had previously laid off 1,000 employees in mid-2020 as the pandemic weighed on its operations.
“After months of operational review by our new owners, Simon Property Group and Brookfield Asset Management, JCPenney has adjusted our structure to better meet our strategic priorities,” said JCPenney in an email sent to Dallas Morning News. “We have streamlined our organization, resulting in the elimination of positions across our corporate, field and stores teams.”
The department store is aiming to revitalize its prospects by tapping the retail properties of its new owners. In March, Simon entered a deal with Authentic Brands Group (ABG) to add products from some of the company’s recent acquisitions, including Forever 21 and Juicy Couture, to JCPenney’s portfolio. The retailer will continue expanding its assortment in coming months, and the added products will reflect a new emphasis on home goods, men’s merchandise in big and tall sizes, women’s merchandise in inclusive size ranges, and baby and kid gear.