UNION, N.J., June 28, 2021 /PRNewswire/ -- Bed Bath &
Beyond Inc. (Nasdaq: BBBY) today announced that three new paid
benefit programs will be implemented on July
1, including parental leave, short-term disability, and an
associate relief fund, building upon the People pillar of Bed Bath
& Beyond's recently unveiled Environmental, Social and
Governance strategy. The Company also announced that it will close
stores on Thanksgiving Day so that Associates can be with friends
and family during the important holiday.
"Our purpose is to make it easy to feel at home, and that begins
right here with our Associates and making investments that elevate
our people-powered culture," said Lynda
Markoe, EVP and Chief People and Culture Officer at Bed Bath
& Beyond. "We're thrilled to implement these new Company-paid
programs to support the well-being of our Associates and their
loved ones. As we look ahead to Thanksgiving and a return to a
'new-normal,' we want our Associates to be home, happier and be
able to welcome friends and family into their homes."
The three new company-paid programs that to be implemented in
July for Associates include:
- Paid parental leave: This industry-leading program will
provide for 100% of pay for up to 8 weeks after the birth, adoption
or fostering of a new child for parents. This program will be
offered to all US benefits-eligible, full-time Associates.
- Company-paid short-term disability: The Company
will convert Associate-paid voluntary short-term disability program
to a Company-paid program, providing for 100% of pay for up to 8
weeks and 60% of pay thereafter up to 26 weeks. This program will
also be offered to all US benefits-eligible full-time
- Associate relief fund: The creation of a fund to support
Associates through various hardships. All Associates, full-time and
part-time, will be eligible to request grants through this fund.
The Company will fund the program with an initial company
investment and, in honor of its 50th anniversary, is
also committing to a Company match of 50% of all Associate
donations up to $500,000 through the
remainder of the fiscal year.
Bed Bath & Beyond, buybuy BABY and Harmon Face Values stores
in Canada will close on
October 11 in observance of
Thanksgiving in Canada, while
stores in the U.S. will close on November
25 for the Thanksgiving holiday.
Customers still wishing to shop on Thanksgiving will be able to
through the Company's digital channels and choose ship to home, or
get their purchases when stores open the next day through curbside
or in-store pickup, or Same Day Delivery. As Thanksgiving
approaches, the Company will unveil great deals and inspiring
products that will make it even easier for customers to feel at
home and welcome family and friends to their Thanksgiving
About the Company
Bed Bath & Beyond Inc. and subsidiaries (the "Company") is
an omnichannel retailer that makes it easy for our customers to
feel at home. The Company sells a wide assortment of merchandise in
the Home, Baby, Beauty and Wellness markets. Additionally, the
Company is a partner in a joint venture which operates retail
stores in Mexico under the name
Bed Bath & Beyond.
Bed Bath & Beyond operates websites at bedbathandbeyond.com,
bedbathandbeyond.ca, buybuybaby.com, buybuybaby.ca, facevalues.com
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SOURCE Bed Bath & Beyond Inc.