BRICK TOWNSHIP, NJ – On Friday, a Worker Adjustment and Retraining Notification (WARN) notice showed Bed Bath & Beyond Inc was laying off about 1,300 employees at four locations in New Jersey.
In April, a change in labor laws in the U.S. state will require companies with 100 or more employees to notify them 90 days in advance of plant closings and mass layoffs, rather than 60 days.
The chain has 21 locations throughout New Jersey.
Bed Bath & Beyond had said last month it was planning to raise around $1 billion, through an offering of preferred stock and warrants, to avoid bankruptcy.
In January, the struggling retailer had said it would lay off more employees to reduce costs, after announcing last year that it would cut 20% of its corporate and supply-chain workforce.
(This March 24 story has been corrected to say that job cuts were not additional, but part of previously announced layoff plans, in headline and paragraph 1)
(Reporting originally by Granth Vanaik in Bengaluru; Editing by Pooja Desai, SNN)