Plano, Texas -- A Wednesday report by the Wall Street Journal said that J.C. Penney Co. has launched a voluntary early-retirement program for certain employees over 55 years old.
The retailer hasn’t revealed how many employees will receive the offers or where they are located. The program includes certain staff members over age 55 who participate in J.C. Penney’s pension plan and have worked for the retailer at least 20 years. The plan is part of efforts “to accelerate initiatives to enhance profitability," a J.C. Penney spokeswoman said. "We're looking at our organization to make sure we have the right people in the right place."