This is Gunna Be BRUTAL—The Hard Truths & Facts Behind the Demise of Retailing Giant, Toy’s ‘R Us

thisisgunnabebrutal

In a fictional parallel to the real-world woes currently facing 31,000 Toys ‘R Us employees, Jack Nicholson’s character in the film, Broadcast News (1987), waits and watches, while all around him, fellow co-workers receive their pink slips during a company-wide, mass layoff. (Photo: 20thCF)

Bottom Line: Today, we’re keeping it VERY simple and jumping straight to the “bottom line.” Here then, is the so-called, “red ink,” regarding the harsh facts and realities of this sad event (as they are currently known to us) according to a story today on CNN:

  1. The news that Toys “R” Us is closing might conjure up wistful childhood memories for shoppers. But for the chain’s 31,000 U.S. employees, it means they’re out of a job.

  2. Mass layoffs are usually softened with a severance package, but Toys “R” Us employees won’t get any because of bankruptcy laws. They will get benefits such as health insurance and matching 401(k) payments from the company.

  3. Workers were promised 60 days pay, which is required under federal law, and they’ll receive that pay even if they don’t work the full two months.

  4. Traditional retailers are on the ropes, with a record 7,000 stores closing last year, according to Coresight Research. That’s more than triple the number of closings in 2016.
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3 thoughts on “This is Gunna Be BRUTAL—The Hard Truths & Facts Behind the Demise of Retailing Giant, Toy’s ‘R Us

  1. kneonknight says:

    This really stinks for the employees, and I wish them luck in their future endeavors. This is the ugly side of a corporate takeover that very few people outside of the company itself ever see.

    It’s the end of an era for many of us who spent hours browsing the store alone or with our kids. Yes, we can “window shop” (or should that be Windows10 shop?) online, but it doesn’t have the advantage of the hands on experience of examining an item from all angles or the visceral thrill of finding something so awesome, ridiculous or bizarre that you can’t help buying it.

    I remember spending many hours browsing the toy aisles at Woolworth’s and wandering among the shelves of an honest to gosh toystore across the street while may parents tended to any errands they had. It’s a shame that experience isn’t one future generations are likely to enjoy, and I suddenly feel very old, and genuinely sad for another piece of a better, happier time that is on its way to extinction.

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