The Detroit Newsreports that Borders is cutting 164 corporate jobs, including 88 at its Ann Arbor headquarters. Borders sales fell 14% during the 2009 holiday season.
The layoffs represent less than 1 percent of the company's total work force of 22,500, said Borders spokeswoman Anne Roman. The cuts are in response to weak 2009 sales, including the recently ended holiday period. Borders' sales for the 11-week period were $846.8 million, down nearly 14 percent from 2008.
Borders sales have fallen as competition from online retailers and discounters has heightened and consumers have cut spending.
The company is "the brutal victim of shifting demographics," said Kenneth Dalto, a retail analyst in Farmington Hills. "Half the people who bought at Borders 10 years ago are buying online."
There have been reports of concern over Borders financial stability. Borders CEO Ron Marshall resigned yesterday. Hopefully, the struggling bookseller will be able to turn things around this year.
The Detroit News 
