It's the economy--JC Penney set to layoff 200 people

Horse with no Name

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Thu Jan-31-08 01:31 PM
Original message

It's the economy--JC Penney set to layoff 200 people

How are you preparing for a possible recession?

The precipitous drop in sentiment in the fall is what we feel we need to deal with going forward. We�re assuming no improvement in the trend in 2008. We�re committed to having positive free cash flow , which probably means moderating our capital spending. And it means making tougher decisions on inventory as well as operating expenses.

http://www.dallasnews.com/sharedcontent/dws/bus/stories/013108dnbusjcpenney_.75571c98.html

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dysfunctional press

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Thu Jan-31-08 01:37 PM
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1. that doesn't seem like all that many, considering the size of the chain..

closing one or two stores could put that many people out of work.

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Horse with no Name

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Thu Jan-31-08 01:38 PM
Response to Reply #1

2. Add it to the pile of other losses and pretty soon

that's a pretty big pile of unemployed workers.

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liberal N proud

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Thu Jan-31-08 01:44 PM
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3. I almost went to work for them a little more than a year ago

Damn!

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pacalo

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Thu Jan-31-08 01:54 PM
Response to Reply #3

4. I worked there as a visual merchandiser; glad I'm somewhere else.

It was basically a good company to work for, with good benefits & employee perks, but I witnessed my gay bosses being undermined & verbally abused by just about every manager, usually in front of people for their "entertainment". Didn't think much of those who ran the place.

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liberal N proud

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Thu Jan-31-08 02:02 PM
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Their compensation is good

That was why I was considering the move.

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onethatcares

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Thu Jan-31-08 02:02 PM
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5. they managed to run a successful drug store company out of business

in short order, mainly due to their dumbass management style. I'll never shop Penneys again, ever.

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