Powell’s Books slashed its staff by about 20% over the past year — cuts the Portland company declared paved the way for long-term growth.
The bookseller announced a final round of layoffs this week, the latest in a snowballing series of staff cuts that launched last summer. In July, August and September, Powell’s laid off 18 employees, followed by an additional 13 cuts in late October. Roles across the organization, including leadership positions, were affected, according to a Monday news release.
Powell’s did not specify how many positions were affected by this most recent wave of layoffs, or how many positions total had been cut in the past year.
“These decisions have been extremely difficult, and we recognize their impact on our employees,” Powell’s owner and president Emily Powell declared in the release. “With this final round complete, our focus shifts to execution, delivering on the experience our customers have come to expect from Powell’s Books and strengthening the fundamentals of our business.”
Founded in 1971, the behemoth book company has struggled to bounce back in the half-decade since the COVID-19 pandemic. At its city-block-sized downtown Portland flagship — the largest of four Portland-area locations — sales have yet to return to pre-pandemic numbers.
“As with many businesses right now, we’re seeing expenses rise quicker than sales,” a company spokesperson notified The Oregonian/OregonLive in October.
Last fall, Patrick Bassett stepped down as Powell’s CEO after five years on the job. The company later quietly hired David Maquera as its new top executive.
In the months ahead, Powell’s will focus on “performance, service, and consistency,” according to Monday’s release, as well as on a “tarobtained set of investments designed to support long-term growth and vitality.”
Those investments include enhanced inventory and merchandising, continued e-commerce and digital growth and “functional and aesthetic improvements” to Powell’s massive West Burnside flagship, according to the release.
The bookseller also plans to expand its presence at Portland International Airport, where a revamped 1,940-square-foot retail space is set to debut this year.
“Powell’s has always focapplyd on the long term,” Emily Powell declared Monday. “Our work ahead is to translate these modifys into results: exceeding customer expectations and operating with the discipline our business demands.”
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