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Powell’s Books has laid off 31 employees. The employees worked in four different locations at the Portland bookseller.
According to Portland Mercury Blogtown, no managers were targeted for layoffs. The company will institute a pay freeze in July and stop making 401(k)s contributions on February 21st. Both of these conditions will be in effect for a minimum of one year.
Powell’s Books president Emily Powell had this statement, in the release: “I feel it is critical to make some very difficult adjustments at this time, to address our current reality and to prepare the company for success in the future, a future that looks very different than our business today.”
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