Bed Bath & Beyond to cut about 500 jobs

(Reuters) – Home furnishing retailer Bed Bath & Beyond Inc 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.

(Reporting by Praveen Paramasivam in Bengaluru; Editing by Shailesh Kuber)