UNION, NJ – Headquartered in Union, Bed Bath & Beyond Inc. has announced a reduction of about 880 department and assistant store manager positions.
In a statement, the company said the reduction will impact half of its U.S. Bed Bath & Beyond stores and about a dozen U.S. buybuy BABY stores. The organizational changes are estimated to generate cost savings of approximately $16 million.
“These actions are part of the Company's continuous efforts to improve and capitalize on the opportunities presented by the evolving retail landscape,” read part of the statement.
“As we work to continue to satisfy our customers through our omnichannel capabilities, the role of our stores is also evolving, and remains crucial to achieving our mission of being trusted by our customers as the expert for the home and heart-felt life events,” said Steven H. Temares, Chief Executive Officer and Member of the Board of Directors of Bed Bath & Beyond Inc. “The actions taken today to accelerate the realignment of our store management will allow us to better support our customer-focused initiatives as well as support our omnichannel growth, while driving operational excellence."
There are no further reductions planned in connection with the realignment.