JC Penney Co. announced on Wednesday it is closing 33 stores nationwide and cutting 2,000 positions, leaving Grand Junction residents wondering if their hometown store will be affected.

According to the Wall Street Journal, the cutbacks will save the company some $65 million annually.

Grand Junction residents can breathe easy as the JC Penney store at Mesa Mall will remain open. Just one store in Colorado is being affected by the closures. The store at Chapel Hills Mall in Colorado Springs is the only Colorado store that is part of the company's closing strategy.

Wisconsin is the hardest hit state with a total of five JC Penney stores shutting down.