Bed Bath & Beyond To Cut 1,300 Jobs In New Jersey: Report

Bed Bath & Beyond Inc BBBY reportedly plans to lay off about 1,300 employees at four locations in New Jersey.
A Worker Adjustment and Retraining Notification (WARN) notice showed that the job cuts will also include discount health and beauty chain Harmon, reported Reuters.
In January, the company notified that it would go ahead with more job cuts to reduce costs.
In 2022, BBBY announced a 20% reduction in its corporate and supply-chain workforce.
The report noted that the latest notification comes ahead of a change in the state’s labor laws that mandates 90 days advance notification to the employees in the event of layoffs, instead of the current 60 days.
Also Read: Bed Bath & Beyond Reveals Receipt Of Additional Proceeds From Equity Offering
Price Action: BBBY shares are trading higher by 5.71% at $0.8310 on the last check Friday.