This Doesn't Bode Well

From PW Daily:

The anticipated cuts at Borders were announced this morning with the bookstore chain saying that it has eliminated a total of 274 positions.

The majority of the cuts came in its Ann Arbor headquarters where 156 jobs were eliminated, with the company reporting that the cuts occurred in virtually all departments such as marketing, IT finance and human resources. While some cuts came in the merchandise group no changes were made in the newly reorganized buyer/planner group. [. . .]

The cuts are part of Borders overall effort to reduce annual expenses by $120 million over the next 18 months.