All 70 workers at Borders.com operations will lose their jobs when Borders.com closes its doors and turns its customers over to Amazon.com, news reports said. Financial terms of the deal were not released.
Ann Arbor, MI- based Borders Group Inc., the nation’s second-largest bookseller, said Borders.com is to be revamped and re-launched as a co-branded site, according to reports.
The company will try to find new positions for the laid-off workers at the Borders Group.
Borders announced in February that it planned to take a one-time charge of more than $20 million, partly because of the depreciating value of its Web site. The company said that it did not know when its online business would be profitable.
Borders is third in the online book market, with $27 million in sales last year, according to the New York Times. Seattle-based Amazon is No. 1, with $1.7 billion in sales of books, videos and music, followed by Barnesandnoble.com, New York, with $320 million.
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