Borders cuts 45 jobs at US Hq

Borders 2

ANN ARBOR (Michigan): Borders Group Inc eliminated 45 jobs at its corporate headquarters as the bookseller works to cut costs.

The job cuts came in several areas of operations, including human resources, finance, merchandising and distribution centres.

Borders is facing stiff competition from online retailers, discount stores and the growing electronic book industry.

The No 2 traditional book seller in the United States said last month it delayed payments to vendors to preserve cash as it works to refinance its debt.

It launched its e-bookstore last summer. It is expanding a selection of e-readers in its stores and children’s toys and games. — AP

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