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J.C. Penney Eliminates 650 Jobs

J.C. Penney's new owners, Simon Property Group and Brookfield Asset Management, announced last week that they have cut the corporate staff of more than 3,500 by about 100 people. In addition, field operation was cut by 550 people. When J.C. Penney filed for bankruptcy protection in May 2020, there were about 84,000 associates employed y the…

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