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Spotlight on...Analysts split on JC Penney layoffs

2014-01-16 17:14:00| Daily apparel & textile news and comment - from just-style.com

Ailing department store retailer JC Penney is to axe 2% of its workforce with the closure of 33 stores over the coming months, in a move designed to save US$65m a year. While some analysts believe the store closures could prove positive in the long term, others think it may be the start of a slippery slope.

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