Posts Tagged ‘terminations’
Thursday, March 7th, 2013
Ron Johnson became JCPenney CEO on Nov. 2011. Since then, he has purged all of the former executives and 1900 corporate HQ employees at Plano, Texas. The company has also cut 19,000 store employees. In his first year, store sales fell 23%. Penney stock shares fell 62% over the past year. So much for his ambitious turnaround plan.
HQ employees loathe and fear him. Now he launches a new plan to eliminate store workers by color code.