J. C. Penney is closing 140 stores and laying off 6,000 workers. Where's Drumpf? [View all]

[DemocratSinceBirth]

JC Penney to close up to 140 stores over the next few months.

HOLYOKE -- Faced with a general decline in brick-and-mortar retail sales, JC Penney announced Friday that it will shut down 130 to 140 stores in the next few months, costing more than 6,000 jobs.

Penney's has stores in both the Holyoke Mall at Ingleside and at the Hampshire Mall in Hadley. A list of the stores to be closed won't be released until March, the company said.

"We understand that closing stores will impact the lives of many hard working associates, which is why we have decided to initiate a voluntary early retirement program for approximately 6,000 eligible associates. By coordinating the timing of these two events, we can expect to see a net increase in hiring as the number of full-time associates expected to take advantage of the early retirement incentive will far exceed the number of full-time positions affected by the store closures," said Marvin R. Ellison, chairman and chief executive officer of JC Penney.

http://www.masslive.com/business-news/index.ssf/2017/02/jc_penney_to_close_130_to_140_stores_ove.html