Union-based Bed Bath & Beyond Inc. announced Thursday it plans to realign its store management structure by eliminating approximately 880 jobs.
The company said the restructuring will support customer-focused initiatives and omnichannel development.
"With the evolution in retail, we continue to strengthen our digital infrastructure and invest heavily in areas such as analytics, information technology, pricing, e-commerce, marketing, supply chain, and our contact centers. As we work to continue to satisfy our customers through our omnichannel capabilities, the role of our stores is also evolving, and remains crucial to achieving our mission of being trusted by our customers as the expert for the home and heart-felt life events. The actions taken today to accelerate the realignment of our store management will allow us to better support our customer-focused initiatives as well as support our omnichannel growth, while driving operational excellence,” said Steven H. Temares, CEO of Bed Bath & Beyond.
The company said it has initiated the realignment in about half of its U.S. Bed Bath & Beyond stores and about a dozen U.S. buybuy BABY stores. This results in the reduction of about 880 department and assistant store manager positions.
Bed Bath & Beyond said the restructuring will simplify its store management structure and strengthen its ability to meet customer needs by focusing additional staffing needs in non-managerial roles and placing less importance on a management structure.
The organizational changes should result in approximately $16 million in future annual pre-tax savings, the company said.
Bed Bath & Beyond said there are no further reductions planned in connection with this realignment and staffing levels in-store will remain the same as before or possibly increase.