Bed Bath & Beyond is cutting about 500 jobs, or 10% of its corporate workforce, as part of a larger restructuring plan in a bid to trim expenses, the retailer announced Thursday.
"This will reset our cost structure, allowing us to re-invest where it matters," CEO Mark Tritton says.
The company said it is making a "significant reduction" in management positions across its business, as it pivots to outsourcing some tasks. Bed Bath & Beyond said it is removing duplicate jobs and cutting certain middle layers of store management.
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