Bed Bath & Beyond stiffed thousands of workers on severance pay | CNN Business

“We knew Bed Bath was in trouble, but we thought we would have at least a couple more years,” said Zaccagna, 50, who started out as a part-time employee and climbed her way to a merchandise supervisor. Zaccagna loved working for Bed Bath & Beyond and said the company treated her well.

There is no federal requirement for severance pay, although some collective bargaining agreements with unions cover severance agreements. Senior executives often have multimillion-dollar severance plans with employers and receive lucrative retention bonuses to stay with companies if they file for bankruptcy. At Bed Bath & Beyond, CEO Sue Gove is eligible for $7.1 million in severance pay and former Bed Bath & Beyond CEO Mark Tritton is suing the company for $6.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Wedding industry hit by David’s Bridal bankruptcy, Bed Bath store closingsChain retailers are losing their grip on wedding sales as engaged couples make alternative plans for gowns and gifts. Speaking of weddings, here is my sister's most delicious Wedding Cookies recipe that is so easy to make! Share away...
Source: axios - 🏆 302. / 63 Read more »

'Punch in the gut': Bed Bath & Beyond didn't pay severance to thousands of workers | CNN BusinessIn early February, Diane Zaccagna learned that the Bed Bath & Beyond store in New Jersey where she had been working for 18 and a half years was closing and she would be laid off. I’ve never been paid severance pay, Next! Put it to bed...
Source: CNN - 🏆 4. / 95 Read more »