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Report : J.C. Penney Company, Inc. (NYSE:JCP) Downsized 2,200 Employees Over Continued Retailer’s Woes, Citigroup Inc. (NYSE:C) Downgraded Retailers

According to a report from The Dallas Morning News, the Department store J.C. Penney Company, Inc. (NYSE:JCP) lays off about 2,200 employees in most of its stores and district offices on Wednesday. This move comes after previous cut off of 19,000 employees in past year, when the company began its transformation with Chief Executive Ron…