Bed Bath & Beyond set to complete a round of layoffs in New Jersey the day before a new state law takes effect that would mean millions more in severance for workers

Fri, 03/24/2023 - 05:00

A Bed Bath & Beyond store is in Paramus, New Jersey, on Monday, February 6, 2023. Signs indicate the store will soon close permanently and all items are on sale for 10 percent off. — Bed Bath & Beyond will cut nearly 1,300 positions at four locations and close 43 stores in New Jersey just days before a new rule kicks in.
Ted Shaffrey/AP

Bed Bath & Beyond is closing 43 stores, two warehouses, and one fulfillment center in New Jersey.
The company is also slashing 377 jobs at its Union, NJ, corporate headquarters, effective April 9.
New layoff rules go into effect on April 10 in the state, which could have cost the company millions.

As embattled housewares giant Bed Bath & Beyond drastically shrinks its retail operation, the timing of store closures and layoffs in its home state of New Jersey is likely helping the company avoid millions of dollars in liabilities it might otherwise face.