Bed, Bath & Beyond dismissed nearly 150 of its 65,000 employees this week, as several customers switched their expenses online, a person familiar with the situation told CNBC.
The redundancies come R days after a trio of investors, Legion Partners Asset Management, Macellum Advisors and Ancora Advisors Tuesday confirmed their share in the retailer and demanded full revenue from the company's board. Investors lambasted Bed, Bath to be slow to swing to online shopping and let the cost dive higher in recent years.
This week's redundancies in Bed, Bath were planned ahead of investors' letters and are part of its ongoing turnaround, the person said.
In a note to employees on Tuesday, obtained by CNBC, Bed, Bath CEO Steven Temares highlighted the company's planned and completed initiatives to launch a turn. They include reformatting of the websites with a focus on data-driven personal marketing, improved products, and a new and more efficient business structure in its buying group.
The person requested anonymity because the information is confidential. A Bed spokesman, Bath, refused to comment.