Borders to cut 742 Jobs

Ann Arbor, Mich. Borders Group is cutting 742 more jobs at its Borders superstores and Waldenbooks specialty stores nationwide.

The company said Thursday the cuts involve less than 3% of its total work force. The cuts are effective immediately.

At Borders superstores, 679 jobs were eliminated as the company focused on reducing the number of manager and supervisor positions in its superstores. The company also eliminated 63 jobs within its Waldenbooks specialty retail segment.

Borders Group said it primarily cut store manager and supervisor positions, although some other jobs were eliminated.

Borders, which said slow sales forced the lay offs, has already made several other rounds of job cuts. The company plans to offer transition pay and severance to all affected employees.