Los Angeles Business Journal

J.C. Penney Fires 2,200 as Woes Continue

Thursday, March 7, 2013

J.C. Penney Co. Inc. laid off about 2,200 employees in its stores and district offices on Wednesday, the Dallas Morning News reports. The struggling Plano-based department store chain’s shares hit a new low on news that 10 million shares of stock were sold by a major shareholder who happens to be a board member.