JCPenney to Cut 900 Jobs

    CHICAGO, IL - JANUARY 26:  Shoppers arrive at a J.C. Penney store at the Ford City Mall  on January 26, 2012 in Chicago, Illinois. Yesterday J.C. Penney Company Inc., the parent company of J.C. Penney announced it would undertake a major transformation of its J.C. Penney stores which will include a new pricing structure that would offer fewer sales and more predictable pricing and the addition of new merchandise brands to their existing lines.  (Photo by Scott Olson/Getty Images)

    Scott Olson / Getty Images

    J.C. Penny has announced that it will cut 900 jobs, including 600 jobs from its corporate headquarters in Texas and 300 jobs when it shutters a call center in Pittsburgh. Executives said the number of calls the company receives has fallen more than 30 percent since the company launched a new pricing plan in February.  J.C. Penney aims to cut $900 million from its annual expenses by 2013. The move comes as the company is launching a redesign of its image under CEO Ron Johnson, who joined the company last year after overseeing Apple’s retail strategy.

    Read it at Reuters