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B&N to Save $40 Million Following New Layoffs

Posted by on Feb. 13, 2018 at 1:29 PM
  • 51 Replies

After posting disappointing holiday results, Barnes & Noble instituted a round of layoffs yesterday that it says will save the company $40 million annually. After CNBC reported Monday that the retailer fired "lead cashiers and digital leads," a B&N spokesperson confirmed the layoffs, but declined to give the size of the cuts or what departments were affected. However, in a filing Tuesday with the SEC, B&N reported that it will take an $11 million charge in its third quarter to account for severance payments.

The filing further noted that B&N expects to complete the staff reductions by February 16 of this year with most payments made in the current fiscal year with the remainder paid in fiscal 2019.

B&N described the cuts as "a new labor model for its stores that has resulted in the elimination of certain store positions. The new model will allow stores to adjust staff up or down based on the needs of the business, increase store productivity and streamline store operations."

In early January, B&N reported that sales for the holiday period ended December 30, 2017 fell 6.4% compared to the same period a year ago. As a result of the poor sales, B&N also reduced its financial performance for the full fiscal year.

With B&N unable to grow its revenue, the retailer has been relying on cost cuts to try to steady its bottom line. The company had about 26,000 employees last April. One of its new employees is Timothy Mantel, who was named B&N's chief merchandising officer replacing long-time B&N employee Mary Amicucci who left the company last September. Mantel had held CMO roles at GNC and Target.


https://www.publishersweekly.com/pw/by-topic/industry-news/bookselling/article/76050-layoffs-hit-barnes-noble.html

by on Feb. 13, 2018 at 1:29 PM
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Replies (1-10):
manna080
by Member on Feb. 13, 2018 at 1:48 PM

It's not surprising they lost money during the holidays because their customer service stinks and I'm sure that I'm not the only one that it happened to either.  During the holiday season they had a toy my daughter wanted that was on sale.  I ordered it off their website and they put a hold on the money on my account.  A few days later I receive an email saying that they cancelled my order but the hold was still on my account so I called to see what was going on.  The guy made a lot of excuses and finally when their were no more excuses he said that I could order the item in full price or go to a store and buy it but they couldn't give me another discount and than he hung up on me. I didn't even ask about a discount I just wanted to see if they oversold the item because it sold out quickly but he was rude. I was able to buy the item somewhere else on a sale price and now I won't shop at Barnes and noble online or in the store.

Episkey
by on Feb. 13, 2018 at 1:59 PM
3 moms liked this
I’m sure there’s a bunch of people with customer service complaints for literally any retail store. There are bad apples in every single company, sorry that you let one person ruin it for you, I’ve always experienced the exact opposite at B&N.

Quoting manna080:

It's not surprising they lost money during the holidays because their customer service stinks and I'm sure that I'm not the only one that it happened to either.  During the holiday season they had a toy my daughter wanted that was on sale.  I ordered it off their website and they put a hold on the money on my account.  A few days later I receive an email saying that they cancelled my order but the hold was still on my account so I called to see what was going on.  The guy made a lot of excuses and finally when their were no more excuses he said that I could order the item in full price or go to a store and buy it but they couldn't give me another discount and than he hung up on me. I didn't even ask about a discount I just wanted to see if they oversold the item because it sold out quickly but he was rude. I was able to buy the item somewhere else on a sale price and now I won't shop at Barnes and noble online or in the store.

idunno1234
by Platinum Member on Feb. 13, 2018 at 2:12 PM
1 mom liked this

Yet:

BARNES & NOBLE INC

Compensation by Company

For its 2017 fiscal year, BARNES & NOBLE INC, listed the following executives on its annual proxy statement to the SEC

Created with Raphaël 2.1.0Name and TitleLeonard Riggio Former Chief Executive Officer, Chairman $197,571Jaime M. Carey Former President of Development and Restaurant Group $1,749,754Allen W. Lindstrom Chief Financial Officer $1,518,124Ronald D. Boire Former Chief Executive Officer $5,203,716David Deason Vice President, Development $1,579,274Mary Amicucci Vice President, Chief Merchandising Officer $1,368,887Demos Parneros Chief Executive Officer $2,257,143William Wood Vice President, Chief Information Officer $1,416,556EquityCash CompensationOtherFiscal Year Ended in 2017


Episkey
by on Feb. 13, 2018 at 2:17 PM
1 mom liked this
Priorities 😡

Quoting idunno1234:

Yet:

BARNES & NOBLE INC

Compensation by Company

For its 2017 fiscal year, BARNES & NOBLE INC, listed the following executives on its annual proxy statement to the SEC

Created with Raphaël 2.1.0Name and TitleLeonard Riggio Former Chief Executive Officer, Chairman $197,571Jaime M. Carey Former President of Development and Restaurant Group $1,749,754Allen W. Lindstrom Chief Financial Officer $1,518,124Ronald D. Boire Former Chief Executive Officer $5,203,716David Deason Vice President, Development $1,579,274Mary Amicucci Vice President, Chief Merchandising Officer $1,368,887Demos Parneros Chief Executive Officer $2,257,143William Wood Vice President, Chief Information Officer $1,416,556EquityCash CompensationOtherFiscal Year Ended in 2017

manna080
by Member on Feb. 13, 2018 at 2:21 PM

I'm sure there is.  It wasn't just 1 person I called back and spoke to higher up person and he flat out told me that they can't give a sale price to every oversold item because they would have been bankrupt if they had.  So it sounds like this was a regular thing that happened, and I also can find better deals other places.  I'm glad that you have always had good experiences at B&N.

Quoting Episkey: I’m sure there’s a bunch of people with customer service complaints for literally any retail store. There are bad apples in every single company, sorry that you let one person ruin it for you, I’ve always experienced the exact opposite at B&N.
Quoting manna080:

It's not surprising they lost money during the holidays because their customer service stinks and I'm sure that I'm not the only one that it happened to either.  During the holiday season they had a toy my daughter wanted that was on sale.  I ordered it off their website and they put a hold on the money on my account.  A few days later I receive an email saying that they cancelled my order but the hold was still on my account so I called to see what was going on.  The guy made a lot of excuses and finally when their were no more excuses he said that I could order the item in full price or go to a store and buy it but they couldn't give me another discount and than he hung up on me. I didn't even ask about a discount I just wanted to see if they oversold the item because it sold out quickly but he was rude. I was able to buy the item somewhere else on a sale price and now I won't shop at Barnes and noble online or in the store.


GrayDuck41
by on Feb. 13, 2018 at 2:27 PM
I have too.
I LOVE shopping and browsing at B and N. There’s a little cafe too where I read.

I’m a member and get a discount and coupons. I have to drive several miles to get to one that’s still open though.
The closest store near me closed and a grocery store moved into the space, which I thought was disappointing. People want more food not Books? We have so many different huge grocery stores already but no book stores 😡


Quoting Episkey: I�m sure there�s a bunch of people with customer service complaints for literally any retail store. There are bad apples in every single company, sorry that you let one person ruin it for you, I�ve always experienced the exact opposite at B&N.
Quoting manna080:

It's not surprising they lost money during the holidays because their customer service stinks and I'm sure that I'm not the only one that it happened to either.  During the holiday season they had a toy my daughter wanted that was on sale.  I ordered it off their website and they put a hold on the money on my account.  A few days later I receive an email saying that they cancelled my order but the hold was still on my account so I called to see what was going on.  The guy made a lot of excuses and finally when their were no more excuses he said that I could order the item in full price or go to a store and buy it but they couldn't give me another discount and than he hung up on me. I didn't even ask about a discount I just wanted to see if they oversold the item because it sold out quickly but he was rude. I was able to buy the item somewhere else on a sale price and now I won't shop at Barnes and noble online or in the store.

Episkey
by on Feb. 13, 2018 at 2:28 PM
We’re you talking to a store employee or the customer service number on their site? Stores don’t price match online prices, that’s pretty standard.

Quoting manna080:

I'm sure there is.  It wasn't just 1 person I called back and spoke to higher up person and he flat out told me that they can't give a sale price to every oversold item because they would have been bankrupt if they had.  So it sounds like this was a regular thing that happened, and I also can find better deals other places.  I'm glad that you have always had good experiences at B&N.

Quoting Episkey: I’m sure there’s a bunch of people with customer service complaints for literally any retail store. There are bad apples in every single company, sorry that you let one person ruin it for you, I’ve always experienced the exact opposite at B&N.

Quoting manna080:

It's not surprising they lost money during the holidays because their customer service stinks and I'm sure that I'm not the only one that it happened to either.  During the holiday season they had a toy my daughter wanted that was on sale.  I ordered it off their website and they put a hold on the money on my account.  A few days later I receive an email saying that they cancelled my order but the hold was still on my account so I called to see what was going on.  The guy made a lot of excuses and finally when their were no more excuses he said that I could order the item in full price or go to a store and buy it but they couldn't give me another discount and than he hung up on me. I didn't even ask about a discount I just wanted to see if they oversold the item because it sold out quickly but he was rude. I was able to buy the item somewhere else on a sale price and now I won't shop at Barnes and noble online or in the store.

manna080
by Member on Feb. 13, 2018 at 2:35 PM

Customer service for an online order.  I didn't expect any kind of discount and I know that the websites and store locations are usually pretty separate so I would never expect an online price in the store.  I just wanted a valid reason as to why my order was canceled and I never got one until I spoke to a higher up.  

Quoting Episkey: We’re you talking to a store employee or the customer service number on their site? Stores don’t price match online prices, that’s pretty standard.
Quoting manna080:

I'm sure there is.  It wasn't just 1 person I called back and spoke to higher up person and he flat out told me that they can't give a sale price to every oversold item because they would have been bankrupt if they had.  So it sounds like this was a regular thing that happened, and I also can find better deals other places.  I'm glad that you have always had good experiences at B&N.

Quoting Episkey: I’m sure there’s a bunch of people with customer service complaints for literally any retail store. There are bad apples in every single company, sorry that you let one person ruin it for you, I’ve always experienced the exact opposite at B&N.
Quoting manna080:

It's not surprising they lost money during the holidays because their customer service stinks and I'm sure that I'm not the only one that it happened to either.  During the holiday season they had a toy my daughter wanted that was on sale.  I ordered it off their website and they put a hold on the money on my account.  A few days later I receive an email saying that they cancelled my order but the hold was still on my account so I called to see what was going on.  The guy made a lot of excuses and finally when their were no more excuses he said that I could order the item in full price or go to a store and buy it but they couldn't give me another discount and than he hung up on me. I didn't even ask about a discount I just wanted to see if they oversold the item because it sold out quickly but he was rude. I was able to buy the item somewhere else on a sale price and now I won't shop at Barnes and noble online or in the store.



Mom2Just1
by Platinum Member on Feb. 13, 2018 at 3:14 PM
I saw that amazon is laying off as well. This is not good.
Episkey
by on Feb. 13, 2018 at 8:35 PM
Thanks for the feature admins, not sure I’ve ever had a featured post before
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