JCPenney parent company laying off 5% of corporate staff

JCPenney parent company laying off 5% of corporate staff

Catalyst Brands, JCPenney's parent company, is cutting 250 corporate jobs following a recent merger.

JCPenney parent plans corporate layoffs after merger

Catalyst Brands, the newly formed parent of JCPenney, is cutting 5% of its corporate workforce. The company was only created recently when JCPenney merged with New York-based Sparc Group, which owned brands such as Aéropostale, Brooks Brothers and Nautica.