Bed Bath & Beyond's owner said in a regulatory filing that it will cut one-fifth of its workforce.
AdvertisementThe parent company of Bed Bath & Beyond plans to lay off one-fifth of its workforce in a move to save $20 million per year.
AdvertisementEarlier in the week, Beyond and Kirkland's Home announced a $25 million deal to open small-format, 15,000 square-foot "neighborhood" Bed Bath & Beyond locations across the US.
Related storiesThe $21.5 million deal covered trademarks, internal business data, and e-commerce platforms, including websites and mobile apps, but no physical stores or inventory.
The company said at the time that the additional Bed Bath & Beyond loyalty program shoppers tripled Overstock's existing customer base.
Persons:
—, Adrianne Lee, Dave Nielsen, Overstock, Dominick
Organizations:
Inc, Service, Bed, Kirkland's, Business
Locations:
Utah