Headlines

Cuts 'R' Us

700 supervisory jobs eliminated at Toys 'R' Us

Published

21 years ago

January 31, 2003

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Toys “R” Us Inc. (Paramus, N.J.), the nation's second-largest toy retailer, announced it is cutting 700 store management and supervisory positions.

John Eyler, ceo, said the layoffs are effective immediately, and are necessary as the company reallocates labor in about 400 stores in the U.S.

“This is a strategic business decision reached after thorough research and evaluation,” Eyler said, adding that the money saved would go toward training and allowing salespeople to spend more time in the stores.

On January 9, Eyler said a decline in sales at the company's U.S. toy stores during the holiday season would keep it from meeting analysts' earnings forecast for its 2002 fiscal year, which ends February 1.

Toys “R” Us, which operates 686 toy stores in the U.S., is second only to Wal-Mart Stores in domestic toy sales.

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