2,200 people will lose their jobs at J.C. Penney Company, Inc. (NYSE:JCP)

Northern, WI 03/10/2013 (avauncer) –J.C. Penney Company, Inc. (NYSE:JCP) is planning to slash 2,200 additional jobs as part of its turnaround strategy.

Last year, the Texas-headquartered department stores chain had eliminated 19,000 jobs (under CEO Ron Johnson leadership) because of decline in sales.

The latest job cuts would affect employees in back-office administration in stores and district offices, according to reports. The move will impact about 100 stores where sales fell the most.

The latest cuts come after the Company reported a net loss of $552 million, or $2.51 per share, in the fourth quarter of 2012. Total sales decreased 28.4 percent to $3.88 billion. For the full year, J.C. Penney Company, Inc. (NYSE:JCP) witnessed a huge loss of $985 million or $4.49 per share. Revenue for the fiscal year decreased 24.8 percent to $12.98 billion.

“Sales and customer traffic were below our expectations in 2012, but as we execute our ambitious transformation plan, we are pleased with the great strides we made to improve jcpenney’s cost structure, technology platforms and the overall customer experience. We have accomplished so much in the last twelve months,” Johnson said last month.

J. C. Penney operates about 1,100 stores.

Shares of J.C. Penney Company, Inc. (NYSE:JCP) were up by 1.96% to close at $15.11.