More bad news for retail. According to this CSA report Bed Bath and Beyond is accelerating layoffs of about 880 department and assistant store manager positions.
More middle-class jobs going down the drain
Unfortunately, this is just the beginning for Bed Bath and Beyond, expect mass store closings over the next year or so as strip mall traffic declines and overpriced retailers get pushed out by Amazon.
The ax has fallen at Bed, Bath & Beyond as part of the realignment of its store management structure.
The retailer said it has initiated in approximately half of its U.S. Bed Bath & Beyond stores and about a dozen of its buybuy Baby stores a limited realignment of its store management organization that will result in the elimination of about 880 department and assistant store manager positions.
“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, CEO, Bed Bath & Beyond, Union, New Jersey. “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.”