State Sen. Joe Cryan sponsored the law that would require severance pay for victims of mass layoffs.
goes into effect requiring large companies to give workers more advance notice of mass layoffs and provide them with severance pay.State Sen. Joe Cryan, D-Union, said he feels a “significant level of anger,“ arguing this demonstrates why the law is needed.
“I think it’s a classic example of abusing your employees to the last moment,” Cryan told NJ Advance Media during a phone interview Wednesday. “Employees give their lifeblood to a company. The whole idea of this law is to make sure those who contributed to a company’s success are taken care of.” Cryan said he’s “reasonably certain” Bed Bath & Beyond — whose Union headquarters are in his district — timed the layoffs “on purpose” to avoid the new law., Business Insider estimated the homewares retailer stands to save “several million dollars” in severance it would have been required to pay.
Spokespeople for Bed Bath & Beyond pushed back Wednesday, saying in a statement to NJ Advance Media it’s not their policy to comment on “speculation” and that “this recent narrative is based on previously announced and reported news.”in early February that we are moving expeditiously toward a smaller and more profitable store footprint and omni-always model,” the company said.
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