Borders Closing In

By Jess D'Amico in News on Jun 3, 2008 5:20PM

In more bad news for Borders, the mega-bookseller just announced that it has cut 20 percent of its corporate jobs, nearly 275 positions, in order to save $120 million annually.

Borders put itself up for sale in March, after announcing losses last year of $150 million and in May, the company laid off five vice presidents and three directors. Barnes and Noble has expressed interest in buying Borders, but there are no definite deals yet.

Currently there are seven Borders in the city. Even though we much prefer to visit an independent or used bookstore for our lit fixes, when we need to venture into the Borders/Barnes and Noble territory, we've usually sprung for Borders.

While you still have the choice, which mega-seller do you prefer?

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