cost-cutting news and archive

JC Penney takes cost-cutting steps after 'expense challenge'

JC Penney Inc slashed payroll, froze overtime for its employees and implemented other cost-cutting measures after it faced an "expense challenge" in the month of April, the New York Post reported, citing an internal memo. Shares of the company are currently down more than 5 percent. According to the New York Post report, the department store...