Friday, March 29, 2019

Bed Bath & Beyond lays off nearly 150 of its 65,000 employees

CNBC
Bed Bath & Beyond laid off nearly 150 of its 65,000 employees this week, as more shoppers shift their spending online, a person familiar with the situation told CNBC.

The retailer, which has had seven consecutive quarters of declining same-store sales, has slowed down the pace of newer store openings and said it is evaluating existing leases. Meantime, it is investing in its online capabilities to help fend off stronger e-commerce rivals like Amazon.. . . more