Toys "R" Us Layoffs

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Topics regarding layoffs at Toys "R" Us

What does this mean for us?

With Larian going through with the purchase option, what does that mean for us? Is there any chance that he is planning to keep the stores working with current staff? Or am I building up false hope once again?... read more

Question

I worked for Babies R Us (California) in one of the first 180 stores to close. We officially closed our doors and my last day of employment was April 3, 2018. I HAVE YET TO BE PAID MY WAGES. I was informed on my last day that we will not be paid... read more

Are you kidding me???

A gofundme page???? Seriously? Somebody out there thought it was a good idea to put a gofundme page together and ask for one billion dollars to save Toys R Us? Now it feels like the world is simply making fun of us and what we are going through... read more

Still some hope

Toy company executive Isaac Larian says he and other unnamed investors have pledged a total of $200 million in financing and hope to raise four more times that amount in crowdfunding in order to bid for up to 400 of the Toys R Us stores being... read more

Vultures Out In Full Force

What a s**t show today. Just rude angry people all day. I got yelled at by some crazy lady that they were "inconvenienced" yesterday and now "disappointed" today because things weren't "really" on sale. I told her imagine how disappointed and... read more

“R”US rewards

I worked for Sears/Kmart and went through the same liquidation process/hell you guys are about to go through. I am wondering. Are they still having you “force” the R-US rewards program down the customer throat so they can sell the info to another... read more

For those hoping Amazon will save them

I'm sorry, but that will not happen. Yes, Amazon is truly looking to buy some TRU stores, but not for the reasons people here might be hoping. But the company is not interested in keeping the Toys 'R' Us stores running. They would buy some of the... read more

Court Hearing Tomorrow. Looks messy

https://cases.primeclerk.com/ToysRUs/ I was looking at court documents for tomorrow's hearing. There are so many objections from landloards and creditors regarding everything from the priority order of payments, lease values, the "wind down" employee... read more

Is there still a chance?

I have seen in several reports that at least some of the stores might escape closings if somebody decides to buy them. The rumor mill has been working overtime, and so many names were thrown around as possible buyers, including Amazon. Could this... read more

Still numb

In all honesty, I didn't expect something like this could happen. I kept believing that this was all blown out of proportion by the media, and we'd get an announcement from Toys "R" Us saying that reports were not true. How wrong I was... This is... read more

ADP Payroll

Take a picture of the hours that they've worked for this pay period (and any future) in the ADP payroll program. Just in case, this may be (if necessary) a way of proving what is owed to you (pay wise). Also ALL employees should either be printing... read more

Why?

That Canadian buyer thing sounds like a load of BS. Why would someone saddle themselves with 8 billlion in debt. The liquidation would still run its course. There’s no reprieve.

Game Over-It's official

Some have asked how this could happen. That's a question you ask when you're utterly clueless about the financial position of the company. As in 5 billion in debt. Maybe next time you'll keep yourself a bit better informed, instead of watching... read more

TRU Filing for Chapter 7 Tomorrow (3/15/18)

They are filing the motion for Chapter 7 tomorrow. All US stores will be up for liquidation UNLESS the Canadian buyers are interested in saving a select number of stores. There will be letters sent out that will discuss the closure. Something about a... read more

Conference call

Is this it? Call today at 3? Any inside info, are they going to announce the bankruptcy today?

Liquidation would mean 33,000 layoffs

I was wondering what the total number of people losing their jobs in case Toys R Us goes through with liquidation would be, and I'll admit it's higher than I expected. I truly hope this does not come to pass. Thirty-three-thousand families losing... read more

Repost from another thread, very important info!

In the event of a Chapter 7 filing (and possible pay delays) employees should ask to take a picture of the hours that they've worked for this pay period (and any future) in the ADP payroll program so that they will have a concrete way of proving what... read more
by Anonymous | Post ID: @Sbinimm
259 views | no replies

Media is pushing the story a bit

Not saying chapter 7 won't happen, but the article (link below) makes sense. I think the media as usual is pushing the story. I don't work for Toys, but I am a retail manager for another company that is also struggling . I really feel for all you... read more

Two-day reprive

According to the docket any items that were to be discussed on the 12th (Today) in court have now been pushed back until the 15th (Thursday). Anybody else feels like we are on a death-row and we were just granted a two-day reprieve? I'm honestly not... read more

Any news?

I keep refreshing news pages, but no new info has surfaced yet. My wife works at Toys "R" Us and we are both stressing out. Anybody here has any new info on what's going on? Has the liquidation been officially confirmed? I can't believe that I'm even... read more

Get out of Toys'R'Us now.

Toys'R'Us has over $500 million in debt that caused it to file bankruptcy in the first place. When they did that, they borrowed $3.1 billion from various banks to continue to fund day to day operations (keep stores open, payroll, benefits, etc.)... read more

Looks like we might be bringing more down with us

An analyst from Jefferies estimates that 10 to 15 percent of Toys R Us' total business will be lost if it liquidates. Toy companies such as Hasbro and Mattel have already begun preparing contingency plans in the event that Toys R Us initiated a full... read more

Who else is dreading Monday?

It is not enough that we had to stress after chapter 11 over which stores would be closed, now we get to stress over if ALL off the stores will be closed. Before, we at least could hope we would not be among those affected. I've read in a Wall Street... read more

Humility

I hope that the upper excuitives become homeless after they run out of money,only then will they will see the errors they have made! Shame on all of them!!!

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... read more

U.K. Bankruptcy

US first and now UK bankruptcy. Not looking good at all for the company. https://www.theguardian.com/business/2018/feb/23/toys-r-us-faces-bankruptcy-putting-3200-jobs-at-risk

No severance

How low can they go? There will be no severances paid out to people in the closing stores. So not only is everybody losing their livelihood, they will be given absolutely nothing to tide them over until they can find new jobs. And yet, I'm positive... read more

Rich are never satisfied

This is all about private equity greed. Buy out a company, load it up with debt to get back your principle investment, extract huge "management fees", then sell off the debris. Same thing with Sears, Winn Dixie, Remington.......

Bad to worse...

Now they're talking about the possibility Toys R Us doesn't even emerge from Bankruptcy. That means the end of the line, no more Toys R Us. https://www.cnbc.com/2018/02/21/toys-r-us-is-in-danger-of-breaching-a-covenant-with-its-lenders.html

Five more TRU stores closing

New day, new store closing announcement for Toys R Us. In other words, business as usual. This time it's five stores in New York, with nearly 300 people affected. For those interested, the five closing stores are in College Point, New York City... read more

It has started

Liquidation sales have started in stores that are slated for next and the following month. I feel deeply for all the employees working in those stores. I hope you find new and much better employment quickly... read more
by Anonymous | Post ID: @REJBFSA
230 views | no replies

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