Poor Sales Forces Barnes And Noble To Layoff Staff
Imagine showing up for work and being told you no longer have a job. That is what's happening to employees at Barnes & Noble nationwide in an attempt to save the company before it's too late.
As of last April, Barnes & Noble, the nation's largest bookseller, employed 26,000 people. CNBC explains that the 2017 holiday sales fell more than 6 percent to $953 million, same-store sales fell 6.4 percent for the holiday period, while online sales dropped 4.5 percent with the blame firmly placed on Walmart and Amazon.
The company tells CNBC "[Barnes & Noble] has been reviewing all aspects of the business, including our labor model, given our sales decline this holiday, we're adjusting staffing so that it meets the needs of our existing business and our customers. As the business improves, we'll adjust accordingly."
We asked the New Hartford Barnes & Noble if they were laying off employees and they declined to comment.
[Information from CNBC]