Borders Group to Lay Off 136 at HQ

Ann Arbor, Mich. Borders Group Inc. said Thursday that it will cut 136 jobs at its headquarters.

The company said the cut represents about 12% of its work force at its headquarters and about 1% of its total work force. The reduction is effective immediately and spread across nearly all of its departments.

The announcement comes weeks after the company cut six VP jobs and 10 director jobs to consolidate its management and trim expenses.