Thread regarding Barnes & Noble layoffs

7 Bankruptcy Stocks to Watch in 2019 and guess who made the list

It’s too bad to see Barnes & Noble (NYSE:BKS) on the decline, because I loved these stores when I was younger. While bookstores could somehow stay around, the e-book/Kindle revolution really ruined business for these guys.

And let’s be honest, Amazon (NASDAQ:AMZN) also didn’t do any favors for retail, in particular BKS.

As of the most recent quarter, the company has $11.2 million in cash and $63.7 million in accounts receivable. While it doesn’t have any short-term debt, it does have over $621 million in accounts payable. Further, long-term debt sits at $278 million.

Despite this seemingly lopsided situation, the company still pays out a dividend. Its yield is near 9.9%, a red flag to be sure. And even though the company turned in one of its best holiday comps in recent memory, management warned on profit, saying it may fall up to 10% year-over-year.

It’s been years since since BKS turned in an annual income statement without red ink on its net income line. This one’s bankruptcy seems inevitable at some point down the road.

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| 2725 views | | 39 replies (last February 26, 2019) | Reply
Post ID: @OP+XA8DTeF

39 replies (most recent on top)

I'm laughing that someone said BN is THRIVING and the MONITORING.

Like this site is such a threat. If I was corporate, I'd be more concerned about the atrocious reviews your stores have been receiving on the job websites like Indeed. And I'd be paying more attention to your rotten DMs and SMs, it seems they're killing morale and in turn, sales!

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Post ID: @cqgb+XA8DTeF

I was one of the managers and I can tell you, there are much worse stories than the ones posted here. We tried to spare the people on the floor of the threats and constant abuse that were really going on. I would often try to save people from getting the ax. The membership card was a recurring topic.

You are all aware of the 3 strikes tactic. If you're getting written up more than once, chances are really good they want you to go. It's not the same company anymore by far. I can understand why people stay even thought it's become so horrible. I say good luck to you when the doors are closed and locked for good.

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Post ID: @4nbv+XA8DTeF

My sm said the same deal: That it was fueled by disgruntled

former employees & none of them know anything.

A lot of folks are posting ridiculous "insider" stuff, so i kinda believe him.

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Post ID: @4rby+XA8DTeF

Monet, it's the same at my store. Everyone is miserable. They keep saying we have enough staff but it's killing the people who are still there. They don't want us reading these sites either, like morale could get any worse!

Can't wait for Employee Appreciation Day. Ha! What a joke!

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Post ID: @4uhh+XA8DTeF

I don’t like this.. waiting with baited breath. It gives me anxiety. You know.. more than I normally get from working for this company. Hopefully not much longer. Resumes have been sent.

I’m making myself ill by staying. Good quality of life at work huh?

You know.. my friend left and recently got a new job. They made the comment about their managers actually caring about them.. how they’re doing and if they needed anything. Just checking in. We were joking about how weird that was when we realized something important.

That’s how it’s supposed to be. You managers are supposed to check in and care.

When was the last time your manager asked you how you were and if you needed anything?

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Post ID: @3mea+XA8DTeF

Of course the posts here are true. Our SM said no one would be laid off and look what happened!!

They are so full of sh1t, they make Trump look honorable.

We should spill all of their DIRTY SECRETS.

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Post ID: @3fcb+XA8DTeF

These posts scare management. We discussed this today. SM told all of us that this site is inaccurate and fueled by the employees let go last year. We were told to not to comment on here. Sounds like management , all the way to the top, is scared of the info on here.

That tells me a lot of it is probably true.

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Post ID: @3alz+XA8DTeF

So it seems management is spending the corporate's time and money reading the posts here, and probably playing Candy Crush, haha!

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Post ID: @3afs+XA8DTeF

You better act quick. Once BN goes under there’ll be no money for a lawsuit settlement !😉

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Post ID: @2oyn+XA8DTeF

Oh, I wouldn't keep a journal to give to them, I'd keep it for my lawyer!

I think I have enough witnesses/people who have been wronged for a nice Barnes & Noble lawsuit.

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Post ID: @2pkd+XA8DTeF

I kept a journal too. Mailed it.

Overhear it being discussed as being “dismissed.obviously a disgruntled employee “....

We Listen is a sham also. There is a backlash if you report. If it’s anonymous the DM & SM are able to listen to the call to determine who it is.

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Post ID: @2ljr+XA8DTeF

After finding out all of the sneaky dirty stuff going on in my store, I decided I'm keeping a journal.

Just in case I need it later. It so comforting feeling like you can trust your management.

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Post ID: @2jvr+XA8DTeF

OK, I have to admit, I feel somewhat guilty about calling Mr./Ms. Corporate a dimwit; this was uncalled for, and I heartily apologize for it.

Guys, what we have to focus on is what's happening to the company and how you can get out from behind the eight ball. Venting is fine and good, but in the end, there will be far too many good booksellers out there who read this stuff, vent, feel like bigshots for a few minutes, and still end up holding the short end of the stick when the axe falls.

Don't worry about revenge and laughing later; get into the mindset now, not later. Work on your resumes; get on LinkedIn, Glassdoor and Indeed. Get out there and interview. There's still time.

Oh, and BTW, Mr./Ms. Corporate still needs to learn how the SHIFT key works.

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Post ID: @2kma+XA8DTeF

Managers don't know about this place, only the old FB page.

I didn't know until someone sent me the link.

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Post ID: @2pcm+XA8DTeF

Monitoring for what? What you gonna do... You threw all you best , knowledgeable dedicated people out like the daily trash. Now you want to "partner" with the employees you have..( Heads up employees that are left....partner means do what they say. They do not want any creative input. ) They will overload you workload. Expect you to do everything else and when you can't get your own job done, that falls on you because you are not using you time wisely. Honestly how can you work at a place that is understaffed and expect to get anything done. The breaking point will eventually catch up to you. Doom and gloom...you bet you . .get out while you can or you will go down with this sinking ship....enviable . Maybe they buy another year...I doubt it. Stock holders and the people at the corporate office come first.....NOT YOU!!! And all of you that are still at this dreadful place should be coming here and reading this stuff,,,,, regardless of what they tell you....just remember they lied to all of us last year way back in November when they said our jobs were safe and they will be eliminated through attrition and look what happened last year. So be very vigil about the conversation around you.

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Post ID: @2yau+XA8DTeF

No one's "monitoring" anything.

Prolly some troll pretending to be a manager.

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Post ID: @1dyl+XA8DTeF

Just sent this link to a friend at Fortune.

Now, they’re “ monitoring “ it !

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Post ID: @1rtd+XA8DTeF

Hello! Long time lurker here.

So, how bout we all take a deep breath and relax?

First, let’s not misrepresent fact: personal insults are not against this website’s policies. I read them. What IS against the policy is bullying. And while I completely understand the frustration and anger, repeated attacks against an individual is, in fact, bullying.

So let’s review: chill the f--- out, corporate is garbage, and I hope everyone has a nice day.

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Post ID: @1fuw+XA8DTeF

Personal insults are not allowed here.

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Post ID: @1bge+XA8DTeF

“The challenges if another year”

Hahahahahahahaha

If you make it another year.

“We’re monitoring it”

Maybe you should know. Those you WRONGED hate you.

Those that are left, should be worried !

corporate is figuring out how to line their pockets before pulling the life support of this dying company.

Dying not because of Amazon, but poor management.

Monitor away. You should know that what you’ve done has caused such upheaval!

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Post ID: @1sue+XA8DTeF

@XA8DTeF-1wsf: "Monitoring this"? Dang. Its a good thing these posts are anonymous, as is yours.

"I know the majority of the sm, asm's & dm's, appreciate the work you do.

We do the absolute best with what we have, and we look forward to meeting

the challenges of another year."

Very nice, Mr./Ms. Corporate. These are people who are hurting, you dimwit. That's why they're here, reading this, wasting, I'm sure, your very important time. I suppose if the company was more transparent about the layoffs, they wouldn't be here. And by the way, learn how to use the SHIFT key. It's not that hard. Although I suppose it's pretty late in New York right now.

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Post ID: @1rim+XA8DTeF

Because we were confronted by employees reading all the doom, gloom

and false information on here, which made us say: Where are you reading this?

There is one particular poster, a former employee, constantly slandering

a DM (this individual does it again below, right within this post) and we're

aware of it and monitoring it.

I know the majority of the sm, asm's & dm's, appreciate the work you do.

We do the absolute best with what we have, and we look forward to meeting

the challenges of another year.

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Post ID: @1wsf+XA8DTeF

"Partner" is indeed one of those appalling business terms that seems to take root today, one beloved by the MBAs, who use it constantly.

"Partnering" is actually passing the buck, moving things up or down the ladder to avoid taking responsibility for, you know, actually managing. Managers are supposed to manage things, and, more importantly, lead their people. A good manager, of course, will consult an experienced person (a lead bookseller, for instance, before they were mostly laid off), because leads were like sergeants in the army--they knew plenty of things, and how to get things done. But, in the end, it's the manager who, when the sh-- hits the fan, stands tall and takes the blame--because that's what he/she is being paid for. So the various corporate trolls/influencers can take the partnering thing and stick it where the sun don't shine.

One of the least good ways to lead (as we've seen from this thread) is to try to convince everybody who works under you to think that everything is fine, the sun is shining, and unicorns are prancing in the parking lot. Booksellers--at least the ones I hired--are pretty smart people, because they have to be. They're selling books, not shoes at the mall. They can see around corners and know when they're being gaslighted.

So, for the real booksellers here at this site, forget about bashing the influencers (if that's a real word--it makes me shudder to even type it) and get with the program, and start looking for something else. Because pretty soon the sun is going to set, and the unicorns will be exterminated.

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Post ID: @1afq+XA8DTeF

Love that term 'PARTNER'.

PARTNER with ...

Yeah. That's Management talk.

"Did you partner with the Manager on Duty?"

"Remember to PARTNER with your supervisor."

Why are managers MM, ASMs or SMs on here reading and commenting?

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Post ID: @1ipx+XA8DTeF

Really? What can I do for barnes and noble ? Like "icaz" said every idea is shot down. They don't care. They want you to be flexible, but they don't want to be flexible. You think you will be more valuable if you are dumped all over the store to clean up other people's mess? NOT! You won't move up and you won't get benefits . You will just be stretched thin and stressed out. If they would have gotten rid of all the useless district managers and kept the people that actually did their jobs and cared then you wouldn't have a bunch of part time people who really don't care and have turned the stores into a nightmare to shop at. Like one poster said... barnes and noble not only lost all the most dedictated and caring employees they laid off last year but also lost the family and friends of those who spent money at their stores. What I wish I could do for barnes and noble is lay them off like they did to all of us last year. 💀💀💀💀💀

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Post ID: @1rmw+XA8DTeF

I care about my store—or at least I try to. I won’t say too much about which position I work, don’t want anyone to narrow it down, but let’s just say I’ve been here at least a few years and know how to do the job right.

I’m constantly trying to improve sales around the store. No matter what I say, it’s shot down. “DM doesn’t like that” or “Corporate won’t like that.” Or even more dumb: “I think it’s a good idea, but I personally don’t like how it looks.” If it increases sales, what does it matter if you personally like it or not?

I’m trying to display merchandise and increase sales, but if it’s not a hundred percent standardized, it’s a hard no. Rarely am I offered an alternative. And 9 times out of 10, the alternatives are convoluted, dumb, and don’t actually improve anything.

How can you partner with someone, if they want nothing to do with you or your ideas? How can you expect things to improve or change if you do the same stupid c-ap over and over again?

Honestly, I’ve stopped trying. I keep my head down and do what is asked of me, but why try for more.

This is not my only job, by the way. Even with my hours, at non competitive rates it don’t pay the bills.

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Post ID: @1caz+XA8DTeF

Let's face it people aren't reading like they used to either!

And unless we get another Harry Potter- we won't last another year!

I know at our store people aren't appreciated, they're slaves.

And it all comes down to that b--ch of a DM in Framingham- she's useless! Unless she runs good people out of stores, including our Receiving Manager. I've lost count how many!!

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Post ID: @1hac+XA8DTeF

“I know we're all already hustling as is, but those that do, are appreciated.”

2/12/18

A lot of HCs hustled.

Many Mag leads hustled.

Several Digital leads hustled.

All the Receiving mgrs hustled.

Of course Bargain leads hustled .

We’re they appreciated?

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Post ID: @cjz+XA8DTeF

Yeah! Partner with what team ( part timers) you have left. Come up with a plan to save BN. Have a bake sale! Sell lemonade ! Have a raffle. Make your store successful!

And, when BN goes under, as they’re planning to , all your efforts might bring more coin to the CEOS pockets . YOU will see NOTHING! Not even a free cookie from the Cafe.

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Post ID: @yxo+XA8DTeF

My advice to those still standing, is maintain your positive attitude and

contribute/learn as much as you can.

If an SM or DM see's you can be placed anywhere, and fill in gaps, you

will be considered essential.

I know we're all already hustling as is, but those that do, are appreciated.

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Post ID: @gde+XA8DTeF

I won't STFU, because some people refused to move outside their comfort

zones, adapt & embrace versatility.

If you do not make yourself valuable to the employer, and your position is cut,

that's on you.

Music lead, magazine lead, Digital...

Come on, the writing was on the wall.

If no one is purchasing DVD's or CD's, as most are streaming, do you expect

the company to just keep paying the music lead or music manager, just because?

Employees were told to be as versatile and flexible as possible.

But i had so many say to me, "No, i don't want to learn cafe or be stuck in Children's.

No, my availability is only this window of time that suits me..."

Sorry, goodbye.

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Post ID: @xgl+XA8DTeF

Everyone knows they treat everyone like sh-- now.

They don't want suggestions and they certainly don't take them if you give them!

They like to assume everyone can do anything and THEY CAN'T!

If anyone can actually SELL stuff why would they work for a c-appy company like this?

The Receiving Managers made everything move so that it could get out to sell.

Music Managers and Leads really did sell music and DVDs.

The Gift Lead knew the dept and sold those gifts.

The Magazine Leads organized and knew the department so they could sell them...

I don't read YOUR big ideas to increase sales! SO STFU, you company stooge!

THIS is how we INCREASED SALES and this stupid company didn't care.

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Post ID: @yjp+XA8DTeF

My former 'team' wants me to come back after being laid off and work for minimum wage and no benefits. If I was so great, why was I let go? They can 'partner' with the part-timers who don't give a sh*t and call out and can't alphabetize while shelving.

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Post ID: @qsb+XA8DTeF

PARTNER??!! YOU LAID OFF MY TEAM!!

GO TO HELL!!

And if you know so much, what stores are thriving? Give me names and figures!!

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Post ID: @dyi+XA8DTeF

Some stores are thriving, not all are sinking ships.

Instead of complaining, partner with your team and follow a plan to increase

sales & store traffic.

Work with what you have, do not dwell on what you don't.

If you are still employed by the company, you need to ask yourself:

What can i do for Barnes & Noble?

Too many are saddled with this idea that the company owe's you.

They pay you to come in & make the company better.

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Post ID: @gwr+XA8DTeF

What are they saying on the Facebook Barnes & Noble Booksellers Page?

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Post ID: @uey+XA8DTeF

I hope everyone who works at B&N is now reading this site. They'd be id--ts if they didn't.

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Post ID: @ovx+XA8DTeF

After the disgusting way they treated dedicated employees,last February,they deserve what’s coming. If booksellers choose to stay , they have no one to blame when the end comes.

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Post ID: @xin+XA8DTeF

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