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News


03/17/2017

EMPLOYEES AT THE J.C PENNEY STORE IN FAIRMONT WERE INFORMED EARLIER THIS WEEK THAT THE LOCAL STORE IS AMONG THOSE BEING CLOSED NATIONWIDE AS PART OF A STRATEGY TO OPTIMIZE RETAIL OPERATIONS,ADVANCE GROWTH AND DRIVE PROFITABILITY.EMPLOYEES WERE TOLD THE CLOSURE HERE WILL HAPPEN IN JUNE AND THAT SEVEN OTHER LOCATIONS IN MINNESOTA WILL BE CLOSING AS WELL. THE GROWING THREAT FROM ONLINE RETAIL WAS GIVEN AS ONE OF THE REASONS FOR THE CLOSURE OF 138 STORES ACROSS THE COUNTRY.

OTHER IMPACTED LOCATIONS INCLUDE; BAXTER,FARIBAULT,HIBBING,HUTCHINSON,RED WING,THIEF RIVER FALLS AND WINONA.

THE ANNUAL COST SAVINGS RESULTING FROM THESE STRATEGIC DECISIONS ARE ESTIMATED AT APPROXIMATELY 200 MILLION DOLLARS ACCORDING THE COMPANY. THE COMPANY IS OFFERING A VOLUNTARY EARLY RETIREMENT PROGRAM TO ABOUT 6,000 ELIGIBLE ASSOCIATES.



ROD HALVORSEN
© 2015 KSUM KFMC


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