Bed Bath & Beyond Lays Off Workers
Bed Bath & Beyond ($BBBY@US) is laying off workers after reporting dismal fiscal third-quarter results. In the company-wide email, CEO Sue Gove said the company is cutting its workforce “across our corporate, supply chain, and store portfolio.” One role that it is cutting is Chief Transformation Officer, which is held by Anu Gupta. Last week Bed Bath issued a warning that it faced bankruptcy. Suppliers are demanding up-front payment, or they cease shipping goods altogether, making it hard for Bed Bath to stock its shelves.