Joseph Cryan, who introduced the legislation.Ī Toys "R" Us store in Totowa, New Jersey, in 2018. The law was inspired by Toys “R” Us, Sears and Forever 21 and other chains that filed for bankruptcy and attempted to avoid paying workers severance, said New Jersey State Sen. New Jersey is the first state in the country to implement guaranteed severance pay protections for workers at large chains. The company did not specifically address not paying severance.
“The difficult but necessary decision to reduce our workforce impacted valued colleagues and is one of many crucial actions taken to enable Bed Bath & Beyond to improve our financial position and serve our customers well into the future.” “Every decision over the past several months has been the product of diligent analysis, advisement, and consideration,” the company said. “Every single person in New Jersey knows it’s wrong.”īed Bath & Beyond said in a statement that, as a practice, it does not comment on specific employee matters. “Knowing the law took effect a week after - it’s even worse,” said Zaccagna, who is job hunting and plans to start a new career outside of retail. What Walmart's pullback from Chicago says about Corporate America's limits is closing four stores in Chicago, halving its footprint in the city, after losses mounted and the retailer abandoned hope of turning the locations around. The law also expands severance benefits for part-time workers and includes other worker protections.Ī Walmart location on 2551 West Cermak Road ahead of permanently closing in Chicago, Illinois, US, on Wednesday, April 12, 2023. Prior to the law’s enactment, employers in the state were only required to pay workers severance if they failed to notify employees they were being let go within 60 days. The law also requires that large employers, defined as businesses with more than 100 workers, must give workers at least 90 days notice for mass layoffs, up from 60 days. She feels the company abandoned her and co-workers and that their years of loyalty meant nothing at the end.īut the timing of the layoffs angered her most.īed Bath & Beyond, based in Union, New Jersey, laid off 1,295 workers in its home state, including at Harmon Face Value stores, just days before a new law kicked in that mandates severance pay - equal to one week of pay for each year of employment - for workers who lose their job in mass layoffs at large employers in New Jersey. I’m very disappointed in how they handled it,” she told CNN. The company also told employees it would not match annual contributions to their 401(k) retirement savings plans they paid into for all of 2022. For supervisors, the maximum was 12 weeks of severance pay.īut Bed Bath & Beyond never paid severance to Zaccagna and her co-workers. The severance plan for full-time workers laid off in earlier rounds of Bed Bath & Beyond closures was one week of regular pay for each year of service, with a maximum of 10 weeks severance. Laid-off workers at previously shuttered stores received severance packages, and so Zaccagna assumed it would be the same for her store. The company laid off more than 1,000 workers in the state days before a new severance law took effect. A Bed Bath & Beyond store in Clifton, New Jersey, in February.
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