Union-based company Bed Bath & Beyond is cutting around 500 jobs, as other retailers across New Jersey, including Macy’s, Kmart and Pier 1 Imports, are expected to close locations.

In a statement, the company says cuts come to "enhance the customer experience, drive sales and position the company for long-term success."

Bed Bath & Beyond announced last month that locations in Newton and Sewell would be among 40 stores closing this year.

The news comes as 24 stores recently announced plans to close.

Their departures could lead to over 1,200 more expected layoffs in what business analysts are calling the 'retail apocalypse.'

Other stores expected to close include Modell's Sporting Goods, which is set to close three stores, Pier 1 Imports, which is expected to close 13 stores in New Jersey, Walgreens, which is closing three locations around the state this week, and Sears and Kmart, which are both closing five locations.