Pros
Excellent working environment, generous vacation (Home office), employee friendly. Adequate benefits. Through it's history, JCPenney has been way above average in how employee's are treated. Profit sharing was fair, and sometimes paid when no profit. The company was process-driven, which affords stability to employees. HR processes were satisfactory, job descriptions accurate. The company celebrated successes generously. The name has prestige.
Cons
Profitability inconsistent. They've been near bankruptcy in the past ten years, and may be headed there again. Have taken to laying off hundreds of employees (including me). IT area had to switch to cheaper offshore / outsourcing which reduced support from excellent to barely adequate. IT leadership is over-optimistic about the quality available from COTS and offshore contractors. This year will be a wild ride for employees, with failure very possible.