Mark Tritton, president, CEO, Bed Bath & Beyond Mark Tritton, president, CEO, Bed Bath & Beyond

UNION, NJ—Struggling retailer Bed Bath & Beyond announced late last week what it termed was “a major pivot” in the company’s restructuring plan that will include the reduction of its workforce by approximately 500 positions.

The locally-based retailer said the plan is focused on realizing several hundred million dollars of cost savings opportunities. The overall restructuring program is expected to reduce annual SG&A (selling, general and administrative expenses) by approximately $85 million, The company states that the strategic realignment is geared at creating a greater focus on the company’s core business and initiatives designed to enhance the customer experience, drive sales and position the company for long-term success.

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John Jordan

John Jordan is a veteran journalist with 36 years of print and digital media experience.

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