Barnes & Noble Layoffs Seem Inevitable Due to Coronavirus

Businesses are closing across the country, due to the coronavirus epidemic. As a result, businesses are struggling to pay employees as they stay shut down. Barnes & Noble CEO, James Daunt, writes to workers stating, “The truth is that we cannot close our doors and continue to pay our employees in the manner of Apple, Nike, Patagonia and REI. They can do this because they have the resources necessary; we, and most retailers of our sort, do not.” Barnes and Noble still has yet to shut down all stores, but it is clear that they will face consequences brought on …

Book Culture

Businesses are closing across the country, due to the coronavirus epidemic. As a result, businesses are struggling to pay employees as they stay shut down.

Barnes & Noble CEO, James Daunt, writes to workers stating, “The truth is that we cannot close our doors and continue to pay our employees in the manner of Apple, Nike, Patagonia and REI. They can do this because they have the resources necessary; we, and most retailers of our sort, do not.” Barnes and Noble still has yet to shut down all stores, but it is clear that they will face consequences brought on by this pandemic if they do.

 

 

“Temporarily, and with sincere regret, on closure we lay off all those employees impacted with less than 6 months employment on the day of closure,” Daunt explained to VICE. Daunt mentions that, employees will first make use of their payed time off, then any workers with more than a year of employment will get up to two weeks of extra pay. Unfortunately, employees with under six months of employment were laid off.

Image Via Fortune

This pandemic had dropped the number of sales made by Barnes & Noble. In order for the company to break even, they need to cut costs. Daunt does end on a positive note and affirms that any permitted stores allowed to reopen will intend to rehire.

Featured Image Via The New York Times

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