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Market Movers

J.C. Penney to close 33 stores, slash jobs

J.C. Penney list of store closures affects 20 states.
J.C. Penney list of store closures affects 20 states.Mark Lennihan/Associated Press

J.C. Penney is closing 33 stores around the country and eliminating 2,000 jobs in a bid to restore its fortunes. Most of the stores that will close are in smaller cities. No Massachusetts stores are on the list. It was the latest move by Texas-based J.C. Penney to steady its operations after several years of dismal results that helped drive its stock down 60 percent last year. It follows Macy’s announcement a week earlier that it would eliminate 2,500 jobs and reorganize its stores.