Bath bath and beyond careers12/5/2023 ![]() Under current standards, no severance is required unless the aforementioned notice period is not provided. The layoffs come just ahead of an overhaul of New Jersey state laws regarding mass layoffs, which is due to take effect on April 10.Īccording to labor and employment law firm Ogletree Deakins, the new law expands notice obligations from 60 days to 90 days and adjusts severance pay regulations to ensure severance pay equal to one week of pay for each full year of employment to employees let go. Bed Bath & Beyond elected to liquidate all Harmon stores in late January. In addition to the layoffs at the core stores, 262 positions will be cut from a Harmon store in Totowa, which will be permanently shuttered alongside all Harmon Face Value locations. ![]() In aggregate, 1033 employees will be made redundant across the locations by mid-April. Per a compilation of Worker Adjustment and Retraining Notification (WARN) notices filed by the agency, Bed Bath & Beyond ( BBBY ) is laying off hundreds of workers at Port Reading, Secaucus, and Union locations. It's not clear how the new regulations would apply to "straddle" cases in which notification happens before April 10 but layoffs occur after, Ogletree Deakins' Diana said, but completing the whole process before the deadline eliminates that uncertainty for Bed Bath & Beyond.Bed Bath & Beyond ( NASDAQ: BBBY) is trimming its headcount near its Union, New Jersey headquarters according to notices filed with the New Jersey Department of Labor. The figures are consistent with reports from other media outlets. Management teams at stores are slated to receive a retention bonus equal to about one week's earnings if they stay until the last day of their employment: $2,000 in the case of store managers, $1,500 for assistant managers, and $750 for supervisors, multiple store managers told Insider. The company has previously declined to comment regarding severance payments. Unlike prior cuts in which as many as 12 weeks of severance pay were given, Bed Bath & Beyond workers in several states affected by this round of layoffs tell Insider they will receive nothing. The company has not mentioned any connection between the new rules and the layoff timing in communications to stores, the manager said, but he noted that store closures in other states will occur after April 10. The manager asked to remain anonymous until his position is terminated, but his identity is known to Insider. Representatives for Bed Bath & Beyond did not respond to Insider's question about whether the law influenced the timing of its New Jersey closures.įilings with the New Jersey Department of Labor also show that the company notified the state in January and February that it would cut nearly 1,300 jobs across four locations: 262 at a Harmon warehouse, 84 at a Bed Bath & Beyond warehouse, 572 at an e-commerce fulfillment center, and 377 at its corporate headquarters.Īll four layoff notices have effective dates of April 9 or earlier, and a New Jersey store manager told Insider that his store and all others scheduled to close in the state are set to be fully vacated before the April 10 law kicks in. On February 7, less than a month after the bill signing, Bed Bath & Beyond updated its list of closing stores to include all 49 locations of its Harmon subsidiary - 30 of which are in New Jersey - as well as 13 flagship-brand stores in the state, up from three locations that were previously announced. Insider roughly estimates the newly required severance payments might have represented a liability to the company of several million dollars, based on median worker earnings reported in Bed Bath & Beyond's most recent proxy filing, layoff numbers reported to the state, and typical store staffing levels and tenure. "That's why they're laying off a lot of employees." ![]() "What makes it kind of a kick in the teeth is you're often dealing with companies that are in some financial distress," Diana said. Management-side employment lawyer Mark Diana, of the firm Ogletree Deakins, told Insider that starting April 10 in New Jersey, employers will be required to give 90 days' notice, include all part-time and full-time workers across all locations in the state, and pay mandatory severance of one week's earnings per year of service, with no cap on the number of weeks. It often indicates a user profile.Ĭurrent federal and state laws require 60-days' public notice of job cuts affecting 50 or more full-time workers at one location, and only require severance payments in the event that an employer does not give full notice. ![]() Account icon An icon in the shape of a person's head and shoulders.
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