Thread regarding Bed Bath & Beyond layoffs

The goal is to refresh the cost structure and create less management layers in the store for quicker decision making while still enacting a sen

They do indeed plan to eliminate the ASM position this quarter. Here is the confirmed plan.
Firstly, by doing it in the third quarter it allows the company to use the cost savings/ revenue from selling off property assets and leasing them back at lower rates which will allow them to afford the severance pay of the 700 or so ASM positions in the core company. This will give a long term cost savings of close to ~32 million for the upcoming year. They also plan to eliminate other ASMs before this restructure by aggressively coaching and terminating ASMs to save the cost of severance. This will also give great cost savings for stores who are not very profitable at the current moment.
They will restructure the store management as follows:
Store Manager - Store Team Leader
Operations Sup - Operations Team leader
Sales/ Dept Sups- Sales Team Leader
Leads (already here)- Specialists
Receiving Sup- Operations specialist
Store trainer- Sales and CS Team leader/ Specialist.
This is the reality. The goal is to refresh the cost structure and create less management layers in the store for quicker decision making while still enacting a sense of promotion within the organization.

An interesting post on the thread about the elimination of ASM positions. Couldn't agree more with @11c4tZkR-9lup . I think more people should see this post.

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Post ID: @11q3pgoQ

7 replies (most recent on top)

If CNN wants dirt and truth about the practice of BBB there are plenty of us that can give him the lowdown, I will, after 18 years with the company I have plenty!!

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Post ID: @11q3pgoQ-9zqs

I am a bbb alumni. Gave them 9 years in the hay day watching them grow from 300 store to close to 1000. Last position was asm in a A volume store. Use to be 100% debt free company then Christmas tree & later harmons when I was still there. I told my dm back in 2000 that the stores were way over managed. I Worked in a B+ volume store then. It had sm, asm, ops mgr, soft side asst & hardside asst, 6 dept mgrs-bed, bath, lifestyle, hard, rec mgr and front end mgr. He said they would NEVER cut those position, that he had been with them since "lenny& sqiggy" had started BBB. Hmm who was right! Brick and mortor is a dying breed of retail. There is very few left at BBB who can teach those the BBB standards. The never say NO to a customer. They cut over a 1000 managers back in 2009/10 none got severance as those in 2017. A very quiet secret that no one even noticed. They did it thru bogus write ups so they wouldn't have to pay unemployment and not pay the $40-90M a year salaries they use to pay Asm/dept mgrs. I knew a asst who made $108M!!! My last BBB looks like c-ap no one knows standards no one acknowledges customers & the payroll has maybe 4 people on the floor in a once A volume store. Yes I'm still in retail as a CVS store manager; my CVS does more a year then that A volume BBB back then, said but true. I wish you all the luck. I loved my early years at BB and still shop there but glad I'm gone.

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Post ID: @11q3pgoQ-7cdk

@11q3pgoQ-1ulv Exactly. And the department supervisors who are left can go work at Whole Foods as a cashier and make more money than the salary cap that BBB has put on our jobs. Salary cap to stay competitive my a–, what cuts to your salary are you taking, esteemed members of the board? Oh no, sorry, you guys probably just gave yourselves raises and big compensation packages with all that money you refuse to pay your people on the ground. Meet the new boss, same as the old boss.

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Post ID: @11q3pgoQ-1ycc

We were told to go out and recruit. How can we say hey come work for a failing company and make $10. an hour. But if you work at Mickey D’S or Target and start @ 13.00 . WTF.

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Post ID: @11q3pgoQ-1ulv

Before we were let go, we had a company wide manager meeting that claimed we take care of our own. Don’t believe anything the company tells you.

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Post ID: @11q3pgoQ-1qgy

Mr. Meyerson,
When you do your report on BBBY, please try to mention when black Thursday occurred back in August of 2017 with the dismissal of 900 mangers across the country, Tamares in his bid to "save" the company $16 million dollars (which just happened to be his salary that year), instead of cutting the top level executive fat, he gutted the company of it's heart and soul letting go the very gears that made the company work and customers come back.

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Post ID: @11q3pgoQ-spt

Hello,

Nathaniel Meyersohn from CNN Business here. I’d love to talk to you “on background,” meaning I’d never use your name in any story, or tell anyone else that we spoke.

I can be reached via cell 917 498 6900, on Twitter @nmeyersohn, and email [email protected]

Hope to hear from you.

Nathaniel

https://www.cnn.com/profiles/nathaniel-meyersohn

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Post ID: @11q3pgoQ-gpc

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