News Amazon, Borders, Baker & Taylor Face Challenges
posted on 2009-04-07 00:51 EDT
The Wall Street Journal newspaper reported (via Bookseller.com) on March 27 that the Amazon.com online retailer is laying off or transfering 210 employees at distribution centers in three states. The Borders Group bookseller announced last week that it lost US$184.7 million during the fiscal year ending on January 31, compared to a US$19.9 million loss the year before. However, newly installed CEO Ron Marshall expressed confidence in his company's future. Baker & Taylor, the self-proclaimed “world's largest distributor of books and entertainment” including manga, is fighting the lowering of its credit rating.