Thread regarding Bed Bath & Beyond layoffs

How do you know this? How are you so sure?

I would like to point out that the CEO has explicitly stated in his note to investors that there WILL BE store closings AND staff reductions and several levels. When they asked on the investor call later that day he stated he was not at liberty to further explain what those reductions would contain but that they were critical in controlling costs and creating effective and efficient communication and processes for the entire company.

Lol how do you know something big is coming? Crickets up in here! Trust me anyone left in bbb...you think it's everything. But once they cut you and you get some distance...oh my god you will be so happy to sc-ape that disgusting company off your shoes. Because they are true s$$$. You will see.

Well, before Tuesdays stock market opening, I only hope to see a turn around from this long weekend. All the stocks need to do is go up 1 or 2 cents a day for the rest of the year to make up ground. As for the stores, Fixing something that is not broken is a waste of funds... Just like the Navy and there maintenance system. GO NAVY!

I saw the writing on the wall... It was just a matter of time and careful planning and waiting for the stocks to plummet a little more before more drastic measures would take place... I hate this company go the way of others. A lot of these bad happenings are do to the brilliant id–ts of corporate who thought they were doing the right thing but didn't think it out at least 6 months to a year or more as to what the consequences might be. I still have great thoughts and ideas on how to help, but corporate doesn't want to listen. Spend money on stupid things, instead of listening to those people who know.

Well it would sure be nice if all these protected pals got shown the door. Like HR, for instance. WTH do they even do now? Get paid to hold down an office chair, have a lengthy lunch, lead a ridiculous webinar. Good grief put the webinars on LMS like everything else and cull that useless level already.

This company makes up titles to keep there pals in. Lol. Yep a Senior Director, Senior Hr Manager. Senior Supervisor and so on.

Wth is a senior director? Not even a known position

And yet they still have a Senior Director a Director and a Manager all in one Dept. WHY?

I did a direct ship from a store. The senior didn't want to it. he cried to the district manager about it... I was terminated for doing my job. And, I was in the middle of helping 6 other customers when I was called into the office for my termination. Having the number 1 windows department means nothing to the company. Also, 5 years straight with no call outs. The king of curtains is dead "long live the king." On the other hand, The district manager was also terminated a couple of weeks later. The windows dept. is struggling around the 300 to 320 mark now. Especially since I ordered the merchandise and did the displays and maintained the department and cleaned and took pride in my work ten fold. I still get calls from the store to help when they need it. If BBB wants me back, I am A phone call away.

Why would you be let go for good customer service? That makes no sense.

I worked in an A store. I am not a disgruntled ex-employee. But I am p-ss-d in that I what let go for doing an excellent job in customer service. The customers now walk in the store ask for me then walk back out. Most shop for what they want on online or TJX or other discounters. Most of them take BBB coupons. As for being laid off, after 7 months, it is becoming more difficult to get a new job. I have solutions to BBB's problems, they didn't listen to me then, they won't listen to me now. Just to be on the safe side, have lots of money saved up... You'll need it! Get those resumes ready.

Well, i work in a "A" volume store, two associates on the floor and two cashiers are not enough. There are times we are all ringing. I see a better was of cutting costs.

As much as ot s—s, the only reasonable thing they can do to cut costs dramatically is to cut payroll and lay off people. I mean we all know we are not as busy as we once were. We get less freight because of it and because they are ordering less with all of the new banners we got in. It’s sad but we don’t need the payroll. As more responsibilities fall into SMs backs I feel the less needed a DM is compared to a regional.

Wondering if layoffs will happen all in one day like last time or be handled differently.

The senior managers all went out for lunch earlier today. They did not look too happy. Something is definitely happening or going to happen very soon. There are not too many full timers left in the stores. Inventory was just finished. The numbers (from what I can tell) didn't look so good, Even if RGIS did one item at a time, most of them can't count. I know the numbers won't jive on a lot of merchandise, But I hope it is not a huge loss like 3 years ago... Harmons alone was over half a million.

If you factor in them waiting until inventory is over and done with it makes even more sense. Let associates work the gruelling hours to get YEI out of the way, see where the company stands financially after that, then let people go. Even if it is not by end of month it will be soon, don't kid yourself thinking otherwise.

How does anyone even know this? Unless you have access to real information this is just someone blowing smoke.

Personally, start getting your resumes up to date just in case. It doesn't hurt to be prepared... with other retail companies folding and stores closing and those that are just being let. it is going to get a lot harder. except for those in management... they will always get something extra when they are let go.

I agree with all of this. I’ve overheard some SM conversations that were not so secret with a DM and RM that SMs need to start training their Dept Sups to do more and own more of the business going forward and to have more ASM responsibilities divided up. I think that they are getting close to eliminating most of those positions. I don’t think that they will completely eliminate ASMs, but I think they will only keep those who they know can become a SM if needed to quickly.

Also this year will mark a change in the SM bonus and pay structure- which has yet to be announced. SMs who can’t make their store perform and meet guidelines will be leaving.

Of course there will be many cuts in Corp too.

It all makes lots of sense. The company is starting to get for and more cost saving to boost the stocks and to keep as many stores open. Since all of those of higher rank then store managers would be affected, the cost in savings on medical insurance will be immense. But as I have been saying... Get rid of the good people and keep the bad... Seems to be the trend that keeps on going.

I believe its going to be all departments in corporate as well - HR, Finance, Technology, Marketing, Supply chain etc.

The stores will also be impacted.

It would make sense so that they could expense it out of this fiscal year to promote savings for the new year.

My bet, is overnight call center associates that they have just cut hours to, admin assistants, HR positions that no longer are needed at the current level. I also think there may be a district level cut, and ASM cut- but not all just those where it’s not cost worthy. My guess is they will cut close to 1600 if they are smart in trying to eliminate useless payroll. I even think they would go as far as cutting DM because it’s the highest overall cost with the lowest revenue draw in. I think that they may end up having just regional Managers. No more Corp car expenses that cost SO much!

I believe it