Thread regarding Toys "R" Us layoffs

More layoffs today

From what I understand there is going to be another round of layoffs starting today. I truly feel for these people. I was one of the people that was let go caught up in the layoff of Feb 2017. I have to say I am better for it. However all the articles that I have read are always pointing to that TRU cannot compete against the likes of Target, Walmart and Amazon. The one thing that I never see is an article that points to upper management. Some one should really do a deep dive into this. This company since the new upper management team has come in under the current CEO, really has taken a nose dive. This is a toy company and it will not and can't run like a grocery store. Toys don't turn like groceries and they shouldn't be expected to. Once I would like to see a reporter who takes a look a the hand that senior management has played in this.

Posted by @LR20aQj-66cnd in an old thread, I just moved it here for info.

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Post ID: @OP+RXIF2Oj

4 replies (most recent on top)

US bankruptcy. UK closing. Looking to sell Asian operation. Selling off real estate. Corporate layoffs coming in March. Execs got a "retention" bonus week before bankruptcy. No retention or severance for the people who actually help build the company, before the vampires took over.

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Post ID: @1ipi+RXIF2Oj

https://www.northjersey.com/story/money/2018/02/28/toys-r-us-sets-auction-date-store-leases-amid-uncertainty/381454002/

Sites that TRU has filed another list of 268 stores with the bankruptcy court in regards to their leases.

This comes after last weeks denials...sounds so familiar to January’s shenanigans.

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Post ID: @1hka+RXIF2Oj

I work at a closing BRU store and our DM has been having ALL of their “thriving” Toys locations transfer their clearance/not selling and discontinued items to our store for liquidation. It’s appalling to me the amount of outdated and overpriced junk that has now become our eyesore.

We couldn’t keep lanolin in stock for our nursing mothers, but a store 30mins away has thousands of dollars tied up in overpriced light up shoes from two years ago (that are now being liquidated). Was nobody policing the buyers? In the first few days of our liquidation sale we nearly sold out of all our baby items, while the toy junk continues to stew. To me, that’s an indication of what the people want.

This corporation has some serious problems (top to middle) and I would not be the slightest bit surprised if the entire thing went under. Hopefully when the next group is told of their looming termination they aren’t verbally promised a severance, that then morphs into a retention bonus and then becomes nothing. Let’s be honest here, it was always gonna be nothing. But then again this company doesn’t do honest.

So to all of you that this may apply to in the future...NOTHING MATTERS UNLESS ITS IN WRITING. DO NOT TRUST THE DM’S!

Good riddance!

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Post ID: @ttp+RXIF2Oj

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