JC Penney cuts 1,000 jobs as it closes stores

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More cuts and closures for one of the country's top retailers. As CBS's Jim Chris, you'll explain. J. C. Penney is closing just over 150 stores and cutting about 1000 jobs, the company that was founded in 1902 and Wyoming. By James Cash. Penny filed for bankruptcy protection in May. It plans to shutter authority. It's nearly 850 stores over the next two

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