Barnes & Noble Slashes Workforce After Disappointing Holiday Quarter

Book giant Barnes & Noble is laying off lead cashiers and digital leads according to a CNBC report.

It was a grueling day for many employees who showed up for work on Monday just to be told that they had no job with the company anymore.

A Barnes & Noble salesperson confirmed to CNBC that it was slashing jobs and said, “Given our sales decline this holiday, we’re adjusting staffing.”

There hasn’t been any word yet on just how many workers have been let go.

“[Barnes & Noble] has been reviewing all aspects of the business, including our labor model,” a spokeswoman for the company said. She also assured that, “As the business improves, we’ll adjust accordingly.”

Holiday sales for the company fell over 6% to $953 million. Same store sales also fell 6.4% and online sales dropped 4.5%.

It was also announced on Monday that Timothy Mantel was named Barnes & Noble’s chief merchandising officer, effective immediately. Mantel previously worked at GNC and Target.

Shares of Barnes & Noble are down over 50% in the last year.

Disclaimer: We have no position in Barnes & Noble, Inc. (NYSE: BKS) have not been compensated for this article.

Sofia Vida

Sofia has been writing for major news outlets for over 15 years. In her spare time she enjoys hiking, walking her dogs, and going to concerts.

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