JCPenney Employees Were 'Crying From Excitement And Joy' After Ron Johnson's Ouster
REUTERS/Lucas Jackson
Constant layoffs, a culture of secrecy, and distrust of Johnson's
His departure was greeted with widespread relief, a JCPenney regional executive told the Huffington Post's Kim Bhasin:
“I saw store employees crying from excitement and joy,” he said. “They told me, ‘Thankfully someone has finally listened to us. I just hope it’s not too late to save J.C. Penney.'”
It wasn't just about the frequent firings, though those certainly took a toll, or the company's poor performance.
One of Johnson's signature efforts was to completely eliminate the company's promotions program without testing it first. Not only did the
After Johnson admitted defeat and embraced sales and coupons again early this year, his management team set an extremely tight deadline to completely revamp the labels and signage.
But by then, he had eliminated a position at every store in charge of signs and visuals. As a result, many of the signs were misprinted and sometimes unreadable, with incorrect price points, and they were sent out too late, Bhasin reports.
It was chaos.
Some argue that Johnson wasn't given enough time. The attitude on the ground seems to be that he might have been given too much.
The company just released an ad, ironically conceived while Johnson was still CEO, admitting its mistakes, rebranding the company, and asking for customers to return.
JCPenney is burning cash at an alarming rate, so it needs consumers to give them another chance sooner, rather than later.
- I spent $2,000 for 7 nights in a 179-square-foot room on one of the world's largest cruise ships. Take a look inside my cabin.
- Colon cancer rates are rising in young people. If you have two symptoms you should get a colonoscopy, a GI oncologist says.
- Saudi Arabia wants China to help fund its struggling $500 billion Neom megaproject. Investors may not be too excited.
- Catan adds climate change to the latest edition of the world-famous board game
- Tired of blatant misinformation in the media? This video game can help you and your family fight fake news!
- Tired of blatant misinformation in the media? This video game can help you and your family fight fake news!
- JNK India IPO allotment – How to check allotment, GMP, listing date and more
- Indian Army unveils selfie point at Hombotingla Pass ahead of 25th anniversary of Kargil Vijay Diwas
- JNK India IPO allotment date
- JioCinema New Plans
- Realme Narzo 70 Launched
- Apple Let Loose event
- Elon Musk Apology
- RIL cash flows
- Charlie Munger
- Feedbank IPO allotment
- Tata IPO allotment
- Most generous retirement plans
- Broadcom lays off
- Cibil Score vs Cibil Report
- Birla and Bajaj in top Richest
- Nestle Sept 2023 report
- India Equity Market