REUTERS: Furnishing retailer Bed Bath & Beyond Inc said on Tuesday its chief operating officer was departing as part of its move to cut 7per cent ...
REUTERS: Furnishing retailer Bed Bath & Beyond Inc said on Tuesday its chief operating officer was departing as part of its move to cut 7per cent of corporate staff, following a review of office costs.
The company also decided to eliminate the COO position, which was held by Eugene Castagna. The layoffs include vice presidents, directors and managers at its headquarters in Union, New Jersey, and at other select locations, the company said.The job cuts follow long-time Chief Executive Officer Steven Temares' departure in May, following pressure from activist investors, who cited the retailer's inability to grow sales and margins.
The company said the workforce reduction is expected to generate net savings of US$18.9 million for the rest of fiscal 2019, but will lead to a restructuring charge of about US$12 million related to severence and other costs.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Singapore Corporate Awards 2019 lauds 38 corporate governance titansTHE Singapore Corporate Awards 2019 on Tuesday honoured 38 companies and six individuals for leading the way in corporate governance and shareholder communication. Read more at The Business Times.
Read more »
Good corporate governance remains important in slow economy: Heng Swee KeatGood corporate governance is especially important in an adverse economic environment, said Finance and Deputy Prime Minister Heng Swee Keat during ...
Read more »
Lower corporate tax rates in Indonesia to benefit most listed companiesINDONESIA'S plan to lower corporate tax rates to 20 per cent from 25 per cent is positive for the earnings of most listed companies, say analysts from Maybank Kim Eng. Read more at The Business Times.
Read more »
Great Eastern, Doctor Anywhere unveiling healthtech services for corporate clientsINSURER Great Eastern (GE) and Singapore-based healthtech startup Doctor Anywhere have partnered to launch health and wellness tech services for GE’s corporate customers. Read more at The Business Times.
Read more »
Video consultations with doctors for GE corporate clients in tie-up with healthtech Doctor AnywhereSINGAPORE - Insurer Great Eastern (GE) and Singapore-based healthtech startup Doctor Anywhere have partnered to launch health and wellness tech services for GE's corporate customers.. Read more at straitstimes.com.
Read more »
CapitaLand Mall Trust Q2 DPU up 3.9% to 2.92 S centsCAPITALAND Mall Trust (CMT) is raising its second-quarter distribution per unit (DPU) by 3.9 per cent to 2.92 Singapore cents, from 2.81 cents a year ago, the trust manager said on Tuesday before the market opened. Read more at The Business Times.
Read more »