PLANO, Texas (AP) -- J.C. Penney Co. said Thursday it will cut 5,300 jobs, or about 2 percent of its work force, and close 47 stores.
The stores being closed are 44 department stores and three catalog outlets, the long-struggling retailer said. The Plano-based retailer operates about 1,100 Penney department stores.
The closings will eliminate 5,000 store jobs and 300 jobs in headquarters and field offices -- about 2 percent of the company's work force of 290,000 employees. Penney said an undisclosed number of store employees could be offered other jobs.
Thursday's announcement marked the second recent round of store closings. Last year, the company announced it would close 45 department stores.
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