Bed Bath & Beyond owner to lay off 20% of its workforce

Group 1 - Beyond, Inc. plans to lay off one-fifth of its workforce to save $20 million annually [1][2] - The company aims to align its operations with an asset-light business model that supports affinity and data monetization [2] - The layoffs and the sale of its Utah headquarters are expected to reduce the annual budget by $65 million [2] Group 2 - Beyond, Inc. intends to monetize data through enhanced CRM capabilities and establish a global loyalty program [3] - A partnership with Kirkland's Home will lead to the opening of small-format "neighborhood" Bed Bath & Beyond locations across the US, with a $25 million investment [3] - Since rebranding, Beyond, Inc. has increased its customer base by 21%, although sales have declined, with delivered orders down by 19% [4]