Mark Tritton, president, CEO, Bed Bath& Beyond
UNION, NJ—Struggling retailer Bed Bath & Beyond announcedlate last week what it termed was "a major pivot" in the company'srestructuring plan that will include the reduction of its workforceby approximately 500 positions.
The locally-based retailer said the plan is focused on realizingseveral hundred million dollars of cost savings opportunities. Theoverall restructuring program is expected to reduce annual SG&A(selling, general and administrative expenses) by approximately $85million, The company states that the strategic realignment isgeared at creating a greater focus on the company's core businessand initiatives designed to enhance the customer experience, drivesales and position the company for long-term success.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
