Bed Bath and Beyond to Lay Off 2800

Bed Bath and Beyond (Union, N.J.) will lay off 2800 employees in a move to streamline operations, according to CNN. The move is expected to help the struggling retailer save $150 million in annual pre-tax savings.

CEO Mark Tritton said the reduction "forms part of a series of changes we are making to reduce the cost of our business, further simplify our operations and support our teams so we can emerge from the pandemic in an even stronger position.”

Last month, BBB announced it would close 200 stores beginning later this year.