Last Updated on December 27, 2019 by Danielle
Toy R Us lays off 250 HQ employees.
Toys R Us, world-renowned toy retailer, announced the reduction of HQ employees. About 250 jobs were eliminated from the company’s New Jersey headquarters in Wayne, New Jersey. This represents about 10-15% of its HQ workforce.
Amy Von Walter, a Toys R Us EVP of communication and PR, said these changes are not only about cost reduction. Mrs. Walter stated they are trying to achieve their growth plans and financial objectives with the optimal structure and talent.
Despite that statement from Walter, analysts believe that the reduction in workforce is due to Toys R Us’s rather weak holiday sales and fierce competition from online retailers, like Amazon.com, Walmart.com, and Target.com.