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Bed Bath & Beyond to Eliminate 2,800 Jobs in Restructuring Plan

A Bed Bath & Beyond Inc. store in Clarksville, Indiana.

A Bed Bath & Beyond Inc. store in Clarksville, Indiana.

Photographer: Luke Sharrett/Bloomberg

Bed Bath & Beyond Inc. will eliminate 2,800 jobs under a plan to cut costs and streamline operations amid deepening challenges for brick-and-mortar retailers.

The “significant workforce reduction” will begin immediately, affecting both corporate headquarters and retail stores, the home-goods retailer said Tuesday in a statement. Along with previously announced restructuring actions, the latest effort will result in as much as $150 million in annual pretax cost savings, the company said.