BBBY - Bed Bath & Beyond to cut over 1000 jobs in New Jersey

2023-03-24 12:01:00 ET

Bed Bath & Beyond ( NASDAQ: BBBY ) is trimming its headcount near its Union, New Jersey headquarters according to notices filed with the New Jersey Department of Labor.

Per a compilation of Worker Adjustment and Retraining Notification (WARN) notices filed by the agency, Bed Bath & Beyond ( BBBY ) is laying off hundreds of workers at Port Reading, Secaucus, and Union locations. In aggregate, 1033 employees will be made redundant across the locations by mid-April.

In addition to the layoffs at the core stores, 262 positions will be cut from a Harmon store in Totowa, which will be permanently shuttered alongside all Harmon Face Value locations. Bed Bath & Beyond elected to liquidate all Harmon stores in late January.

Shares of Bed Bath & Beyond ( BBBY ) rose 4.35% on Friday, rebounding from a 52-week low of $0.77 marked just after the market open. The New Jersey-based retailer's stock has fallen over 96% over the past year.

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