Bed Bath & Beyond to cut about 500 jobs

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(Reuters) – Home furnishing retailer Bed Bath & Beyond Inc (O:) said on Thursday it would cut about 500 jobs, including management positions, as part of a restructuring program.

The company expects the program to cut annual SG&A expense by about $85 million.

The company expects to take net pre-tax charges of about $26 million related to the restructuring in the fourth quarter.

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