ANN ARBOR (AP) -- Borders Group Inc. says it eliminated 45 jobs at its corporate headquarters as the bookseller works to cut costs.
The job cuts disclosed Monday came in several areas of operations, including human resources, finance, merchandising and distribution centers. Spokeswoman Mary Davis said in an e-mailed statement employees who lost jobs will receive severance.
Ann Arbor, Mich.-based Borders is facing stiff competition from online retailers, discount stores and the growing electronic book industry.
It announced plans last week to close a Tennessee distribution center and eliminate 310 jobs.
The No. 2 traditional book seller in the U.S. said last month it delayed payments to vendors to preserve cash as it works to refinance its debt.
Borders launched its e-bookstore last summer. It is expanding a selection of e-readers in its stores and children's toys and games.
Published: Wed, Jan 19, 2011
