Ron Johnson Shoots Down All The rumours Of Mass Layoffs At JCPenney ... Well, Sort Of

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Photo: Ian Gavan / Getty Images

JCPenney CEO Ron Johnson addressed the rumours that have been circulating about mass layoffs at the retailer.Well, sort of.

“There is a rumour a day about JCPenney about layoffs or something,” acknowledged Johnson.

It’s true. rumours are constantly circulating around JCPenney headquarters and its stores across America. They’ve essentially become part of the culture at JCPenney, according to executives we’re talked to.

Johnson didn’t totally quash the rumours about job cuts.

“This idea that we have massive headcount reductions on the way is really rumours,” said Johnson. “This is much more rumour than it is fact.”

So, what’s true and what’s not?

He didn’t say anything about what to expect with layoffs going forward.

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