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Filings: J.C. Penney Slashed Employee Total in 2012

Posted on March 21, 2013 by HFN Staff

PLANO, Texas-J.C. Penney drastically reduced its total employee count in 2012, according to the company's 10-K annual report filing with the U.S. Securities and Exchange Commission.

In the 10-K, which was filed with the SEC yesterday, J.C. Penney put its total employee count, including full- and part-time workers at 116,000. That was down 27 percent from the employee count of 159,000 the retailer stated in its 10-K filing last year.

J.C. Penney posted a net loss of $985 million for the fiscal year ending on Feb. 2, compared to a net loss for the prior fiscal year of $152 million.