Beyond Inc shares rise on restructuring plan, job cuts

ByOn Co

04/12/2023 14:00

** Shares of U.S.-based online retailer Beyond Inc  BYON.N 
up 3.5% at $22.22 in premarket trade
    ** Co announces restructuring plan targeting about $25
million of annualized reductions by early 2025
    ** BYON, the parent company of  Bed Bath & Beyond, said it
would cut about 10% of current employee base as part of the plan
    ** Savings from restructuring plan to begin to accrue in
late Q4 2023
    ** Says ability to drive rev growth, increase customer base
should not be affected by actions taken to reduce fixed expense
base
    ** As of last close, BYON shares up 10.8% YTD

 (Reporting by Saikeerthi in Bengaluru)
 ((Saikeerthi@thomsonreuters.com;))