J.C. Penney To Close 40 Stores; Dow Erases 2015 Losses

Stocks have achieved a much needed rebound as the Dow surged 322 points today, erasing the Dow's recent losses in 2015. All three main U.S. stock indexes are now positive in 2015 as investors are welcoming stabilizing oil prices. Multiple companies announced their layoff plans for 2015. Despite their better-than-expected holiday shopping season, J.C. Penney (JCP) announced that they will be closing approximately 40 underperforming stores and laying off around 2,250 workers. McDonald's (MCD) is eliminating multiple open corporate positions and laying off 63 employees at its corporate headquarters.

Coca-Cola (KO) also announced plans to layoff anywhere from 1,600 to 1,800 of its U.S. and international corporate employees in the coming weeks.