J.C. Penney cuts another 350 headquarter jobs

J.C. Penney Co Inc announced another 350 job cuts at its Plano, Texas headquarters, completing a reorganization of its home office designed to help it bring costs in line with those of rivals. The department store chain, which is involved in a radical transformation including a new pricing strategy and the remodeling of its fleet of 1,100 stores, said the cuts will contribute to its previously announced plan to reduce costs by $900 million a year by the end of 2012. The Plano, Texas-based

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