Welp, we officially have the latest hard-to-watch death throe in the ongoing "Death of Retail" narrative...
Barnes & Noble is cutting staff, laying off lead cashiers, digital leads and other experienced workers in a company-wide clearing, CNBC has learned from sources familiar with the matter.
The news came abruptly for many workers who showed up Monday morning at various Barnes & Noble locations to be notified that they no longer had a job, the people said. The number of affected workers couldn't immediately be determined.
A slowly-decaying brand that is no longer capable of managing layoffs humanely or efficaciously is one of the final symptoms in the disease that is business death, so Barnes & Noble has moved one step closer the great beyond. Its stock is dropping like an analog ballon filled with actual brick and mortar, and it continues to bleed out from the stab wounds inflicted on it by certain digital disruptors who utilized tech and analytics to do everything that it did, but better, and with an eye on unstoppable market growth.
Speaking of which, what was Amazon up to today?...
Amazon is laying off employees in the "low hundreds" an in effort to shift head count allocation to businesses that are growing, CNBC has learned.
The Seattle Times first reported that Amazon was laying off "hundreds" of employees and "managing out" others as the company consolidates its retail operations.
A person familiar with the matter says the cuts are focused on Amazon's Seattle headquarters and will affect some workers globally. The layoffs will occur in the consumer retail business, which includes Amazon's toys, books and groceries units, to make room for head count in businesses that are growing, like Alexa, AWS and digital entertainment. Jeff Bezos, in a statement in the last earnings report, said Amazon would "double down" on Alexa after blowing past projections.
Wow, Amazon, you can't even let Barnes & Noble do layoffs without one-upping them? You nasty.