JCPenney’s Morale Problem
Earlier this year, JCPenney rolled out their new look and approach to retail sales - with a reduced emphasis on "sales" and "clearance" and more of an up-scale feel to their operations. It was a direct effort to combat sluggish sales across the board in their stores.
Last month, the company let almost 1,000 people go at the corporate level; JCPenney has also started to reduce staff at the local stores - with cuts as deep as 25 sales associates or more at some larger outlets.
Now, comes internal leaks from staff that they're fearing that they're becoming "Sears - the laughing stock of retail". Some customers are complaining about the reduction of offerings on the store shelves. Most also lament that there are no longer sales to shop.
What becomes of an American retail institution like JCPenney?