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Jan. 15 (Bloomberg) — J.C. Penney Co. plans to close 33 stores and eliminate about 2,000 jobs to help save $65 million a year as Chief Executive Officer Mike Ullman tries to turn around the money-losing department-store chain.

The closings and cuts will result in pretax charges of $26 million in the fourth quarter and $17 million in future periods, the Plano, Texas-based company said today in a statement.

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