BOUNCE

[oldberkeley]

Re JCP: Don't know if you saw story from Business Insider about "stealth layoffs": http://jobs.aol.com/articles/2013/03/07/stealth-layoffs-at-j-c-penney-reports-say/

J.C. Penney Co. is quietly eliminating more positions in its stores company-wide, sources familiar with the matter told us. Store managers watched a "secret broadcast" on Tuesday afternoon, where they were informed that stores must prepare to "work harder with less" in 2013.

"Service Leaders," "administrative assistants," and "office/cash room associates" are being cut from the hierarchy, effective April 5, sources told us. There's no word yet on exactly how many people the cuts will affect, and there has been no official announcement from J.C. Penney. The company did not respond to a request for comment.

One company exec told us that the number is in "the thousands," since every store has administrative assistants and cash room associates, and James Covert at the New York Post reported that the final tally will end up at 1,500.

What a dinosaur! Why doesn't JCP & Sears merge, seems like the same place to me, call it "JC Sears" or something, they might have a chance.