WAYNE, NJ (WATE) – Toys “R” Us could close another 200 stores and lay off a “significant portion” of its corporate staff after the retailer posted a disappointing holiday sales season, according to a Wall Street Journal report.
The company recently announced it would close roughly 180 stores, laying off around 4,500 workers.
Sources told the Wall Street Journal that discussions about the closings are not complete and the number of closures could change.
The company is also no longer offering severance benefits to hourly workers who lose their jobs. That’s a change from January when the company said it would provide severance to all employees.
Toys “R” Us sought bankruptcy protection in September. At that point, it had about 1,600 stores around the world, 800 of those in the United States. The company had around 11,150 full-time workers and 21,300 part-timers.