NO LOVE AT J.C. PENNEY

 Am I Next? J.C. Penney Layoffs

It should be no surprise that J.C. Penny, a retailer who is closing 138 stores,  would also adjust their warehousing, logistics chain, and customer service call center by closing their Wauwatosa, Wisconsin facility with a loss of 670 workers.  It is also no surprise that the 2-million square feet facility would morph into a real estate play and sold to a private developer or possibly to the municipality to develop. 

Also it would be expected for a company spokesman to mouth the obligatory words, in this case Carter English who was quoted as saying ““It’s never easy taking actions that directly impact our valued associates, however, we feel this is a necessary business decision. Eligible associates will receive separation benefits, including outplacement support and an on-site career training class.”

Considering the reduction in mall traffic, affecting other retailers like Sears, Macy’s. According to media sources over 9,000 stores were closed in 2017 – primarily driven by the pricing, convenience, and fast-delivery from mega-stores like Amazon and Walmart. In addition to the layoffs, the company is said to be offering a voluntary retirement program to about 6,000 employees across the company to avoid layoffs.