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J.C. Penney closing distribution center, laying off 230

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J.C. Penney Co. Inc. plans to close its Plainfield distribution and support center and lay off 230 workers, company officials said Monday morning.

The retailer informed the state it will lay off 121 employees on Sept. 8, followed by the layoff of 30 more workers a week later and the remainder by the end of September.

The distribution center opened in 2002 at 700 Airtech Parkway near the Indianapolis International Airport.

J.C. Penney officials said the company intends to offer severance benefits and transition programs, including outplacement services to employees who are eligible under the company’s policies. Officials told IBJ a total 230 workers will be affected; just 176 were mentioned in the notice filed with the state Department of Workforce Development.

The retailer lost $163 million in its latest quarter and suffered a 20-percent drop in revenue after rolling out a new pricing strategy that did away with frequent sales.


 

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  • Plainfield DC employees
    William, do you work at the DC in Plainfield right now? I'm currently trying to help some of the employees out.. Let me know
  • Should have paid attention
    This is due to their relentless support of gays. They should have remmained neutral, but nooooo, they didn't listen and then got boycotted. Ha!
  • This had nothing to do with the quarter sales
    This was actually decided early last year. Several DFWs and DCs have been planed to be put on the chopping block and/or merged with other facilities through the country. The bad quarter didn't help, but it was not a factor in the decision making process, as I said this was already told to us when I was working at the Milwaukee Facility. It was a let down, because I only took the job in Milwaukee so I could transfer back down to Indy's DC. It's going to suck for a lot of those people who have been working at the facility for 10 years to possibly have to take big pay cuts seeking other jobs, and their is no guarantee that they will get a job with similar pay at another company's DC.

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    1. Cramer agrees...says don't buy it and sell it if you own it! Their "pay to play" cost is this issue. As long as they charge customers, they never will attain the critical mass needed to be a successful on company...Jim Cramer quote.

    2. My responses to some of the comments would include the following: 1. Our offer which included the forgiveness of debt (this is an immediate forgiveness and is not "spread over many years")represents debt that due to a reduction of interest rates in the economy arguably represents consideration together with the cash component of our offer that exceeds the $2.1 million apparently offered by another party. 2. The previous $2.1 million cash offer that was turned down by the CRC would have netted the CRC substantially less than $2.1 million. As a result even in hindsight the CRC was wise in turning down that offer. 3. With regard to "concerned Carmelite's" discussion of the previous financing Pedcor gave up $16.5 million in City debt in addition to the conveyance of the garage (appraised at $13 million)in exchange for the $22.5 million cash and debt obligations. The local media never discussed the $16.5 million in debt that we gave up which would show that we gave $29.5 million in value for the $23.5 million. 4.Pedcor would have been much happier if Brian was still operating his Deli and only made this offer as we believe that we can redevelop the building into something that will be better for the City and City Center where both Pedcor the citizens of Carmel have a large investment. Bruce Cordingley, President, Pedcor

    3. I've been looking for news on Corner Bakery, too, but there doesn't seem to be any info out there. I prefer them over Panera and Paradise so can't wait to see where they'll be!

    4. WGN actually is two channels: 1. WGN Chicago, seen only in Chicago (and parts of Canada) - this station is one of the flagship CW affiliates. 2. WGN America - a nationwide cable channel that doesn't carry any CW programming, and doesn't have local affiliates. (In addition, as WGN is owned by Tribune, just like WTTV, WTTK, and WXIN, I can't imagine they would do anything to help WISH.) In Indianapolis, CW programming is already seen on WTTV 4 and WTTK 29, and when CBS takes over those stations' main channels, the CW will move to a sub channel, such as 4.2 or 4.3 and 29.2 or 29.3. TBS is only a cable channel these days and does not affiliate with local stations. WISH could move the MyNetwork affiliation from WNDY 23 to WISH 8, but I am beginning to think they may prefer to put together their own lineup of syndicated programming instead. While much of it would be "reruns" from broadcast or cable, that's pretty much what the MyNetwork does these days anyway. So since WISH has the choice, they may want to customize their lineup by choosing programs that they feel will garner better ratings in this market.

    5. The Pedcor debt is from the CRC paying ~$23M for the Pedcor's parking garage at City Center that is apprased at $13M. Why did we pay over the top money for a private businesses parking? What did we get out of it? Pedcor got free parking for their apartment and business tenants. Pedcor now gets another building for free that taxpayers have ~$3M tied up in. This is NOT a win win for taxpayers. It is just a win for Pedcor who contributes heavily to the Friends of Jim Brainard. The campaign reports are on the Hamilton County website. http://www2.hamiltoncounty.in.gov/publicdocs/Campaign%20Finance%20Images/defaultfiles.asp?ARG1=Campaign Finance Images&ARG2=/Brainard, Jim

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