Barnes & Noble Cuts Jobs In Nook Business, Shares Climb

(RTTNews) - Shares of Barnes & Noble Inc. (BKS), a retailer of content, digital media and educational products, climbed around 9 percent on Monday on reports that the company eliminated positions in its Nook digital books and e-reader business.

A report had indicated that the retailer cut its team of hardware engineers in the business. The company said it has not eliminated all the positions within the unprofitable business, but did cut some jobs.

''As we've aligned NOOK's cost structure with business realities, staffing levels in certain areas of our organization have changed, leading to some job eliminations," Barnes & Noble spokeswoman Mary Ellen Keating said in an e-mail.

Early last month, the bookseller said the NOOK segment's revenues plunged 60.5 percent to $125 million for the nine-week holiday period. The NOOK segment included digital content, devices and accessories.

BKS climbed 8.8 percent on Monday to close at $16.06.