JCPenney plans to shut down as many as 140 stores in the next few months, the retailer announced.
According to CNN, the department store chain did not disclose how many jobs would be cut, but it said it is also offering early retirement to 6,000 full-time employees.
The company said it expects a net increase in hiring, even counting the job cuts from closed stores.
The store closings are expected to start by the end of June, and the locations will be revealed by March.
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