Thread regarding Barnes & Noble layoffs

The amount of customer complaints of poor service have skyrocketed. Trust can’t be regained.

A once great company and brand has been destroyed. No one will buy this soiled mess .

Everyone knows what kind of fraud this company is. Outsiders have a pretty good picture. Better than those working there maybe. Listen to the last conference call after earnings were released. Those analysts were pretty clear in their tone that management has zero credibility. Usually calls are a benign back and forth. This one was pretty awful. The next one will be even worse. It is near impossible to regain credibility and good reputation once it's lost. Customers are not coming back. There are easier options than coming into a store that has the negative vibe this company now seams to be championing.

The chances there is a real buyer for this company are slim. If riggio is going to take it private with help, a bad earnings number along with cancelling the dividend will tank the share price and make it cheaper to do so. But...he is in essence lighting his own house on fire so he can buy it cheaper. The imagined value in the name is forever gone.

I can't think of the last good idea the company has had. There is no way they can go 100 for 100 with bad ideas. It has to be on purpose. One or two good ideas would have to sneak their way through???

The stock symbol should be WEFT. (Wrong every ____ time)

Lounge around and read for free ?

That means less sales .

That means closing!

@yaq The entirety of the entire millennial cohort is working age now (22-38 years old). 95% of them report they don't want to be hassled when shopping. Even the majority of Boomers report they don't want assistance when shopping. That was their parents' generation. Most of them want to lounge around, drink coffee, and treat B&N as a library where they read for free. It's the second largest coffee shop. It's a place where they take their kids to play with trains and other toys. Help? How many people does it take to man an info desk?

I get it ,also.

It’s the Riggio‘s company.

He deserves the money. And, screw all the people in the store that are making the money for him.

I had to laugh, in another thread on here, someone said they heard the Riggio’s had “underworld “ties. Then they said, they did not believe it because the mob knows how to run a business. I thought that was funny and deserved repeating.

The debate over the number of people fired last February is important.

Every lie needs to be exposed.

So that the business analysts down to the consumer know what kind of fraud this company is.

Why all the debate over 1800 or 2400 people that the company wrongly let go? Even if it was 500, it is just as wrong as 1800. To be clear, the company did this to save $40,000,000 they said. The dividend they pay out every year is $43,000,000. This is capital they don't have. The cash on hand is in the $11,500,000 range. They flat out said they borrow from their line of credit with bank of America to do this, if needed. The stock is 80% owned by institutions, and Riggio is the largest shareholder. So he had to fire people to pay himself that dividend. Thank the negligent board of directors for this.

With the company's stock trading under book value, this company is worth more closed than trying to operate as a business.

It is one thing to lean out payroll in tough times, but it's another to saddle the booksellers left with horrible management. Horrible is being generous.

When was the last time someone heard iso or best practices? We got perfume in today....PERFUME!! How long will it be before we start carrying diapers, because upper management needs them for what they are doing in their pants, and local management needs then their general state of fullness!

Remember how "a book can change a person's life".... this company is beyond lost. Management should read some book on taking ownership of mistakes... step up...quit looking for miracle answers...or just fold the rent.

No one in their right mind would but this company ... it's a dog with fleas, ticks, and worms.

They cut hours so much, there’s no one to help customers.

That means less sales.

That means closing.

Are these people stupid or what?

They cut our hours even more this week. The end must be near.

Don't blame BN managementEven ebook sales are declining in large percentages over year. Smartphones have taken away all the eyeballs. Books, ebooks, magazines, newspapers, they're all in decline. Why buy the cow when the milk is free? Can't blame B&N for the decline of print. Face it, the day of the book megastore is over. Bookstores will probably survive as secondhand retailers, as with Half-Price, and as small shops that serve caffeine, where it all began, maybe e-books at that. May as well blame horse carriage management companies for the invention of cars, or typewriter companies for the invention of computers.

B&N's sales are in the toilet and the stocks are at an all time low.

There will be more layoffs, but they'll do it in a much more sneaky way. They'll write up the long term people and drive them to quit or fire them. That's how our store has done it for years.