News
Barnes & Noble consolidates publishing
20.07.09 | Katie Allen
Barnes & Noble has consolidated its publishing operations in a hunt for efficiencies amid the recession.
The US’ largest bookstore chain announced on Friday (17th July) that it has brought its small in-house publishing operations under its Sterling Publishing unit and laid off a "handful" of employees, reports the Wall Street Journal.
The company made 100 corporate jobs redundant earlier this year.
"This move eliminates duplicative functions and allows us to be more efficient," said spokeswoman Mary Ellen Keating. She declined to provide further details but said the business operated with a small number of people.
Alan Kahn, president of Barnes & Noble Publishing, will continue in his role, focusing on special publishing projects.
In May, the retailer reported that its net loss for the first quarter, which ended 2nd May, widened to $2.69m, or five cents a share, from $2.22m, or four cents a share, a year earlier. Revenue fell 4.4% to $1.11bn. The chain said that its online sales fell 7% to $93m in the quarter.
