February 13, 2018 / 1:52 PM / 5 days ago

BRIEF-Barnes & Noble Sees Charge Of About $11 Mln In Q3 For Employee-Related Severance Costs

Feb 13 (Reuters) - Barnes & Noble Inc:

* BARNES & NOBLE - ON FEB 13, CO ANNOUNCED IT HAS IMPLEMENTED NEW LABOR MODEL FOR STORES THAT HAS RESULTED IN ELIMINATION OF CERTAIN STORE POSITIONS‍​

* BARNES & NOBLE INC - ESTIMATES TO INCUR CHARGE OF ABOUT $11 MILLION IN FISCAL 2018 Q3 FOR EMPLOYEE-RELATED SEVERANCE COSTS IN CONNECTION WITH ACTIONS​

* BARNES & NOBLE SAYS ESTIMATES THAT NEW LABOR MODEL FOR STORES WILL RESULT IN ANNUAL COST SAVINGS OF APPROXIMATELY $40 MILLION - SEC FILING

* BARNES & NOBLE - MAJORITY OF SEVERANCE COSTS WILL RESULT IN CASH PAYMENTS DURING CO'S FISCAL 2018 FOURTH QUARTER, WITH BALANCE PAID IN FISCAL 2019 Source text: (bit.ly/2El7Yg1) Further company coverage:

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