Tuesday, February 10, 2009
By Billy Gil | Posted: 03 Feb 2009
To consolidate its management and cut expenses in a tough economy, Borders Group has cut six VP and 10 director positions, mostly out of the company’s Ann Arbor, Mich., headquarters.
The company has eliminated the role of EVP of U.S. Stores, held by Ken Armstrong, as well as the roles of SVP and chief information officer, held by Susan Harwood. Other jobs eliminated were SVP of e-business; VP of real estate; VP of human resource services; and VP, creative.
Steve Davis, SVP of Borders Group Operations, will head the store operations group. And separately, Borders announced Fred Boehler, SVP of logistics, will leave Borders Group.
“As we address the immediate priority of getting our company’s financial house in order, one of our goals is to more aggressively reduce annual expenses,” said Borders Group CEO Ron Marshall. “It is difficult to make the decision to eliminate jobs, especially those of talented and dedicated leaders who have significantly contributed to our organization, yet streamlining our leadership and eliminating management layers will help us be more agile and at the same time advance us toward our expense reduction goals.”