JC Penney Is Firing 10% Of Its Corporate Staff

JC Penney Fresh Air Event

Photo: Aimee Groth, Business Insider

Around 600 of the 5,900 employees from JC Penney’s headquarters in Plano, Texas, are getting fired, reports Maria Halkias at the Dallas Morning News.It’s another step in the management restructuring plan that CEO Ron Johnson put in place in January.  JC Penney says that it expects about $200 million in savings from its HQ.

Not only is JC Penney doing it to save money, but it’s also making a culture shift.

Here’s what Johnson had to say in the press release:

“We are also transitioning from a culture based on management to one based on leadership. We are going to operate like a start-up. We are going to extend the reach and span of control of our very best talent. We are going to be nimble, quick to learn, quicker to react and totally committed to realising our vision to become America’s favourite store. Often in business, companies must streamline in order to leap forward.”

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