Union-based Bed Bath & Beyond has announced significant layoffs just days before employees qualify for severance pay.
In the Garden State, 1,295 employees were told they’ll be let go. Workers were told this days before a new law in New Jersey that mandates severance pay — one week of pay for each year of employment — for workers who lose their job in mass layoffs at large employers.
MORE: Struggling Bed Bath & Beyond files for bankruptcy protection
“Large employers” is defined as businesses with more than 100 workers. The law dictates such companies must give workers at least 90 days’ notice for mass layoffs, up from 60 days. Prior to the law's enactment, employers in the state were only required to pay workers severance if they failed to notify employees they were being laid off within 60 days.
Bed Bath & Beyond has closed hundreds of stores since late 2022. The recent layoffs also include those who also work at Harmon Face Value stores.
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