J.C. Penney to Eliminate Thousands of Jobs, N.Y. Post Says

J.C. Penney Co., run by Apple Inc.’s former retail chief, will cut thousands of jobs as part of a plan to overhaul the company, the New York Post reported.

Chief Executive Officer Ron Johnson is eliminating positions that involve re-tagging merchandise and putting up temporary signs and displays, the Post said, citing people it didn’t name. The reductions will affect employees at almost all of J.C Penney’s 1,200 stores in the U.S.