J.C. Penney to close 33 stores, cut 2,000 jobs

Credit: MGN Online

J.C. Penney to close 33 stores, cut 2,000 jobs

January 15, 2014 Updated Jan 15, 2014 at 5:58 PM CDT

J.C. Penney said on Wednesday it will close 33 underperforming stores and cut 2,000 jobs as part of its turnaround.

The struggling department store chain operates about 1,100 stores in the United States and had 116,000 employees as of Feb. 2, 2013. Find out more about this story by watching the video below.