Report: J.C. Penney Slashed 43,000 Jobs in One Year

However you're counting the numbers, they hurt. J.C. Penney revealed in a regulatory filing yesterday that it finished its fiscal year ended Feb. 2 with 116,000 employees - a whopping 43,000 less than a year earlier. That's a slashing of 27 percent - even steeper than the company's disastrous revenue decline of 24.8 percent for the same period. It's also more than twice the figure of 19,000 job cuts that Chief Executive Ron Johnson testified to under oath earlier this month