The Wall Street Journal reports that Toys R Us has laid off between 10 and 15 percent of its corporate employees, describing the company as just "the latest retailer to cut jobs as shopping rapidly shifts from physical stores to online ones."
The story goes on: "The reorganization is the latest effort by Toys R Us’s chief executive, David Brandon, to adjust the privately held company to a fast-changing market. Like other primarily brick-and-mortar retailers, Toys R Us had trouble attracting enough shoppers to stores during the critical holiday season as e-commerce sales continued to pick up speed."
Amy von Walter, a spokesperson for the company, said that "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."
The story goes on: "The reorganization is the latest effort by Toys R Us’s chief executive, David Brandon, to adjust the privately held company to a fast-changing market. Like other primarily brick-and-mortar retailers, Toys R Us had trouble attracting enough shoppers to stores during the critical holiday season as e-commerce sales continued to pick up speed."
Amy von Walter, a spokesperson for the company, said that "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."
- KC's View:
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One of the great advantages of being at the point in life where your kids are adults but there are no grandchildren in the picture is that you never, ever have to go into a Toys R Us store, which I always thought was one of the most soul-sucking experiences during my child-rearing years. So it is not surprising to me that the company is suffering, and that layoffs are the result.
I suspect this is not the end of the cuts.
