When can we hope to be able to read JCPenney related news without fearing we'll learn about more closing stores? They just keep adding and adding... Now the latest news is that dozens more stores could be on the chopping block.
How are we supposed to work with the proverbial ax always hanging over our heads???
Sadly, things are just getting worse at JCP. Some stores are moving to a new scheduling system that is going to reduce staff to a further barely functioning crew. JCP.com is rumoring to be moving to one schedule system, also to reduce pay expenses. Contact less payment has been removed to reduce associated costs etc... The entire company is moving in to an cut expenses anyway possible. I think the company won't close many more/if any stores this year. Look for further cost reductions and possible layoffs but next year the store closings will be a blood bath.
Labor cost is one item corp is looking at this is nothing evil. they are just looking at how to be competitive with the new reality or retail. new goals include a reduction of 30% in labor are used in models that forecast how the company could compete with the online retailers.
My view is going cheaper wont fix this , knowing the customer and having desirable product and providing superior customer service would set jcp apart.. Diving to the bottom would be our last move , Kmart style.