Bed Bath & Beyond set to complete a round of layoffs in New Jersey the day before a new state law takes effect that would mean millions more in severance for workers
As embattled housewares giant Bed Bath & Beyond drastically shrinks its retail operation, the timing of store closures and layoffs in its home state of New Jersey is likely helping the company avoid millions of dollars in liabilities it might otherwise face.about the company's turnaround strategy during its third-quarter earnings call.
"What makes it kind of a kick in the teeth is you're often dealing with companies that are in some financial distress," Diana said."That's why they're laying off a lot of employees." Representatives for Bed Bath & Beyond did not respond to Insider's question about whether the law influenced the timing of its New Jersey closures.with the New Jersey Department of Labor also show that the company notified the state in January and February that it would cut nearly 1,300 jobs across four locations: 262 at a Harmon warehouse, 84 at a Bed Bath & Beyond warehouse, 572 at an e-commerce fulfillment center, and 377 at its corporate headquarters.
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