J.C. Penney Will Close 33 Stores and Lay Off 2,000

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Plano-based department store J.C. Penney announced today that it will shutter 33 stores nationwide and eliminate 2,000 jobs in its ongoing turnaround effort.

With more than 1,100 stores nationwide, the move is said to save the company some $65 million. The stores will sell off their remaining inventory and will close by May, the company said. While no stores in Texas will be affected, taking the hit the hardest is Wisconsin, where five locations are targeted to close.
· J.C. Penney Co. [Official Site]