Barnes & Noble Eliminates Nearly 100 Positions
Barnes & Noble announced the elimination of nearly 100 positions at its New York corporate headquarters, citing a reduction in store openings and consolidation of functional areas within its retail and online operations.
"It should be noted, this is the first time in the company’s history we’ve had to do this,” says CEO Steve Riggio. “The business climate in which we are operating is unprecedented, and therefore, the reduction in expenses is inevitable.
“Although our people, from top to bottom, did a terrific job in managing expenses and maximizing productivity,” he continued, “the current business climate and the downturn in retail sales mandate that we reduce corporate overhead costs as appropriate to our overall sales volume.”