J.C. Penney to close 4% of stores, cut as many as 2,250 jobs

Forty J.C. Penny stores are on the chopping block as the nationwide department store chain continues to climb back from a disastrous marketing campaign.

Bloomberg reports the retailer said in an emailed statement that it will try to find jobs at other locations for the 2,250 associates who work at the stores and offer separation benefits for those who leave the chain.

In January 2014, the chain shut 33 stores and cut 2,000 jobs.

The chain had 1,062 locations at the end of the third quarter. Most of this year’s closings will happen by April 4, the company said.

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