> 85,000 jobs would be hard to replace currently. Hopefully the company can save a majority of them. <
A friend of mine worked full-time for Penney for 20+ years. Then one day they fired him. He was replaced by two lower-paid, part-time workers
I suppose that made good business sense. But it was not an honorable thing to do.
I agree about Pennys. The days of the long term, well trained and motivated employee might be gone. Those two replacement employees are in a class that’s going to get hurt most in this debacle though.
He started remodeling their stores in 2012 when they were in the red. What kind of idiot throws money into decorating stores where nobody is shopping?
A series of unfortunate decisions from hiring the apple exec, to advertising miscues, and finally letting a hedge fund manager dominate the business doomed JCP.
They forgot their core customer base.
Same thing happened to a friend of mine except he had been there almost 40 years starting right out of high school. Fortunately for him, he was so well known and liked in the mall that he had several job offers in a matter of days when the other retailers learned that Penney's had gone stupid.