Bed Bath & Beyond cuts 2,800 jobs in restructuring move

NEW YORK - Bed Bath & Beyond said it’s cutting 2,800 jobs at its New Jersey corporate headquarters and stores — about 5% of its overall workforce — as the ailing retailer looks to move more of its business online.

The company says the move saves it about $150 million a year, before taxes.

The company also said the action is designed to further reduce layers at the corporate level, significantly reposition field operations to better serve customers who are shopping more online, as well as realign technology, its supply network and merchandising teams to support growth initiatives.