Borders Group announced that they cut an additional 136 jobs today. The cuts will affect 12 percent of the corporate leadership in the Ann Arbor, Michigan headquarters, but only one percent of the company’s overall workforce.
Earlier this year, the company cut 16 corporate positions in a similar effort to control costs at the company.
CEO Ron Marshall issued this statement: “While reducing payroll is never easy and we respect the impact it has on employees and their families, it is one of the necessary steps we must take along with other non-payroll expense reductions to help get this company back on track financially … In this time of transition, I greatly admire the tenacity and focus that employees at all levels here have shown as we drive to significantly reduce expenses and bring other key financial measures in line. We will continue to move forward with deliberate speed to make the changes required to get Borders back on firm financial footing.” (Via.)