Report: Layoffs at Toys ‘R’ Us

Toys “R” Us is the latest company to downsize its workforce.



The toy retailer laid off between 10% and 15% of the employees at its Wayne, New Jersey headquarters — approximately 250 jobs — on Friday, Feb. 17, Forbes reported.



In the report, Amy Von Walter, Toys “R” Us executive VP of global communication and PR, stated, “The recent changes are not just about cost-containment — our growth plans require us to have the right structure, talent and determination to transform our business and achieve the financial objectives we’ve set for the company.”



These changes are the result of a variety of challenges, including consumers’ shift to more online shopping, and more competitors claiming a bigger stake in the toy category — factors that contributed to a same-store sales decrease of 2.5% domestically and 4.9% internationally for the nine-week period ending on Dec. 31, 2016. This marks a consolidated 3.4% drop during the crucial holiday time-frame.



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