Bloomberg Law
March 16, 2023, 1:26 PM

Bed Bath & Beyond Paying No Severance in Recent Store Closings

Jeannette Neumann
Jeannette Neumann
Bloomberg News

Bed Bath & Beyond Inc. isn’t paying severance to employees at stores across the US that it has recently said will close, according to current and former staff members, a sign the retailer is trying to save cash to stabilize its floundering business.

Bed Bath & Beyond executives told staffers around early February that they are rolling out an additional round of store closings and informed workers at those locations that they wouldn’t receive severance, according to internal correspondence and documents seen by Bloomberg News, along with the current and former employees. They asked not to be named discussing company ...