The retail giant J.C. Penney has announced that it will close 33 stores all over the U.S. The stores to be closed represent about 3% of the total stores and about 2,000 positions. The stores set to close in May were targeted as under-performing. For the rest of the chain, commissioned compensation for sales people will be making a return. Over the past year, the store?s stock has fallen more than 60% as performance has fallen quarter after quarter.
See "J.C. Penney cutting 33 stores and 2,000 jobs; sales commission returns", Tiffany Hsu, Los Angeles Times, January 15, 2014