J.C. Penney has cut 300 jobs at its headquarters Thursday as it continues its restructuring efforts.
These cuts would eliminate nearly 9 percent of the jobs at the retailer's home office in Plano, Texas.
"As the company continues to make progress on its strategic framework and implement new processes and efficiencies, it is imperative that we maintain a thoughtful approach to managing expenses while effectively supporting the needs of the business," said J.C. Penney spokesman Joey Thomas.
The cuts come as part of a larger initiative led by CEO Marvin Ellison to revamp the stores image and sales.
Earlier this month, J.C. Penney announced that it was reducing $5 billion in pension obligation by 25 to 35 percent, a move that affected up to 43,000 retirees and their beneficiaries.
Shares of J.C. Penney were trading at $9.98 at Thursday's close. They have risen 54 percent year-to-date.