barnes & noble

Barnes & Noble is being acquired by a hedge fund for $476 million and will be taken private.

Barnes & Noble, which announced a round of layoffs this week, is pointing to new staffing rules that will allow stores to increase or decrease the number of people on the clock depending on need.

Barnes & Noble, the nation's largest bookseller, says it's laying off staff after a weak holiday shopping season.

Book giant Barnes and Noble's Chief Executive Officer, William Lynch, is resigning and being replaced by Chief Financial Officer Michael Huseby.  Huseby will serve as president and CEO of Nook Media.