Borders to close 200 Waldenbooks stores and cut jobs

Pedestrians walk past the entrance of a Borders bookstore along the Michigan Avenue shopping district March 20, 2008 in Chicago, Illinois. (Scott Olson, Getty Images)

ANN ARBOR, Mich. (AP) — Borders Group Inc. says it will close 200 Waldenbooks stores and cut 1,500 jobs in January to make the chain smaller and more profitable.

Borders, based in Ann Arbor, Mich., said the closings would leave about 130 Waldenbooks stores still in business.

The company says the closingwill not affect any Borders superstores or any of its mall kiosks, including 500 Day by Day Calendar Co. spots and other mall-based stores.

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