This is the worst company I have ever been involved with. Don't believe the B.S. that it is all about the people and they care about their employees. Almost every year there are layoffs. I am sitting at my desk today watching hard working people being layed off. Does not matter if you work hard or not you are just as vulnerable here.
So if you are thinking of a career switch this company rethink that. Horrible Horrible place to work.
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.
Same thing at our store. If you’ve been around too long they just snip you. They tell you, ‘hey, step down, or you’re being terminated." So you pick.
Hard working, loyal employees, gone. and without these true HEROS impacting guests lives and keeping them loyal and coming back, I don’t see the bankruptcy to even come close to the projected settlement of 3.2 million (total debts 3.8 mil)
"Struggling Toys R Us Plans To Pay Executives Millions In Bonuses":
https://www.npr.org/sections/thetwo-way/2017/12/07/569088557/struggling-toys-r-us-plans-to-pay-executives-millions-in-bonuses
"Toys ‘R’ Us CEO Dave Brandon Purchases Decidedly Adult UES Penthouse for $15M":
https://www.amlu.com/2017/05/31/toys-r-us-ceo-dave-brandon-purchases-decidedly-adult-ues-penthouse-for-15m/
"The grabbing hands grab all they can
All for themselves – after all"
(Depeche Mode: "Everything counts", 1983)
Told at Valassis no one getting bonuses but 6 jaguars were parked outside for the Vice Presidents all Dave Brandon’s idea
Very very unethical management at the field level. Won't be long before Karma will play a big role in their careers.
hi
https://www.toysrusinc.com/investors/financial-reports/report-detail/financial-document-detail?id=11525623&vid=aHR0cDovL2FwaS50ZW5rd2l6YXJkLmNvbS9maWxpbmcueG1sP2lwYWdlPTExNTI1NjIzJkRTRVE9OCZTRVE9JlNRREVTQz1TRUNUSU9OX0VYSElCSVQmZXhwPSZzdWJzaWQ9NTc%3D
944,743.00 EUR (1,025,943 USD) severance pay + 1,107,076 EUR (1,202,229 USD) “Incentive Award”. And he got a new job right away:
https://www3.hbc.com/press-release-container/hudsons-bay-company-names-dr-wolfgang-link-ceo-of-hbc-europe/
Storch and Link re-united.
The link in the previous posting got screwed. It's not "example.com" but "-------". The document can also be found here:
https://www.sec.gov/Archives/edgar/data/1005414/000100541417000011/tru201610k-ex1071.htm
I bet the President of TRU Europe who was responsible for the layoffs in Europe back in 2015 and who was fired in February 2017 got his million severance pay already.
https://example.com/l6x4hX
I also was pulled in the office in March ,and advised i to had been cut. That my full time babies r us department supervisor nursery position was no longer. I chose to take the sevrance package (which i have yet to get)
It is now May 9th , and after calling store level and not getting anywhere i called the district location for our store. I have been trying to cash out my 401k and move things around. Problem being that i still cant Beacuse i have yet to be termed in the system. So i have not worked since March 24th. And here it is May and still no sevrance check , nor have i gotten my paper work regarding it. District HR says my boss should of had that info packet. Nope only forms i got was a packet to sign saying i choose to leave...was now told i only have 45 days from last day worked to sign this paperwork...... I am more than just hurt ans betrayed by the company i have been with for over 5 years. I will keep you all informed.
@LR20aQj-Zcyg Did you receive paper and packet on severance pay as well as chart and have to sign agreement to get severance pay
Was it just give to you
Store layoffs at the end of march. If anyone is waiting on their severance I was finally able to get in contact with someone and was told if you have direct deposit it will deposit on the 28th and if you dont you'll get a live check mailed to you. I'm not sure if this is just in my case or across the board for everyone.
@LR20aQj-Ftyr did you receive your severance pay yet if so did you have to sign an agreement were you ever told you had to sign anything at any time in order to recieve it
Yes, the recent layoffs can get unemployment because they were downsized, and not termed for cause. I was approved today. I also get 3 weeks severance because I was there 6 years (not much, huh?). They didn't pay out vacation or ETO, but my manager was cool and let me bail after I got the news Monday, and entered vacation and ETO for me for the rest of the pay week while I was still in the time system. Corporate fought her on it and at first they weren't going to pay it, but she actually went to bat for me and told them that was our deal or else I would have worked the rest of the week out and left on Friday (term day). I'm still a little stunned. Didn't see this one coming at all. So freaking arbitrary.
These corporate f---heads are heartless from the top down to the SMs and they all support this behavior, while claiming the opposite!
Are the recent layoffs able to draw unemployment ?
I was basically given two options either I step down or I take the small garbage amount they were giving my to quit.
Yup, Worked for them for over four years. Was the Furniture DS. Got laid off after my shift yesterday. No warning or nothing. Put up good numbers and my department was getting better and better after i took over for the last DS. Didn't matter. The company can rot for all I care.
There are 1100 more layoffs coming next week from the stores. Department supervisors, and full timers, 3/26/17 is the date.
It wouldn't shock me if the IT positions move to Photon.
I got let go from another retail company over a year ago. Middle mgmt..Ax was swung at people in the higher pay scales from what I know & who I spoke with that was let go. On-going reorg for the past 7 years etc. Another round of layoffs are occurring again at my previous employer from people I keep in touch with.
Read about the Toys layoffs & Lowes layoffs...so figured I would chime in.
What I learned is that we are all just a #. I did 6 + year at my previous employer.....boss called me around 8 AM from HQ and told me the news.
I was out of work for 4 months before I landed at a new job. Always s---ed telling possible employers what happen and why you are looking for a job. I went on around 10 interviews....before I got hired. FYI am 46 years old.
I went through the typical mental games after it occurred....
Retail is a tough world these days and I am looking for a way out
They are also recruiting at colleges, like by hosting booths at career fairs mere days before the big layoffs this month. They had to start a new pipeline of cheap labor, just in time.
Find it interesting how a ton of new positions are being posted to job boards for Toys after the people performing them were let go. If I were you I would check to see if the organization is re-posting your position. If so, they can not claim it was for elimination of job or cutbacks.
What I found most interesting other than the having to reduce salaries, is the choice of people that was let go. In my area, it was people with experience who questioned the direction of the company and the processes put in place. In my estimation leadership wants people who will follow not lead. It is a shame, as I can only speak for myself but I believed in the brand. It will be interesting to see where they company goes, this round of layoffs was just the tip of the iceberg. I see two more chapters in this companies future 7 and 11.
I was a store manager for them and had positive gains, reduced turnover and improved customer relations in every store the placed me in. I enjoyed leading and developing my associates and several of them became store managers. The problem with them is the want you to keep pushing and pushing there business and sales without really developing executives. Time and time again favoritism is in play placing poor or lazy leaders who really are not qualified, lack the proven success and are drinking buddies with superiors. The hours are tough and not a good work life balance especially if you have children or during the holidays when you have to be in the store by 2 on Thanksgiving day. Needless to say I left the company after several years due to burnout and stress caused by miss managing support.
I worked for TRU in Human Resources and was speaking to a few of my old colleagues last June as I was contemplating returning....... I AM SO GLAD I DIDNT. WHAT A RUN DOWN PEICE OF GARBAGE THIS COMPANY BECAME!!!!
I came in to work on their website. They had a 100 million dollar cost overrun from poor executive decisions and mismanagement. But no matter how bad it got the project management office (responsible fir the debacle) and most senior executives survived. Being here was like working in a dilbert cartoon.
Looks like that writer from the Forbes got the info he needed:
http://www.forbes.com/sites/tompopomaronis/2017/02/20/retail-under-fire-toys-r-us-has-laid-off-up-to-15-of-hq-employees/#52714311517c
He projects (due to extended bond maturity), that the company could possibly be out of business in 2 years, and would be less if that did not occur. Sad to think part of your childhood could be gone just as much as your current job. Leadership is really bottom of the barrel.
They laid off about 77 people in September 2016. District Managers, Local Marketing, and Human Resource. Very sad.
WSJ article about the layoffs:
https://www.wsj.com/articles/toys-r-us-lays-off-10-15-of-corporate-employees-1487621559?mod=e2li
This Forbes/Inc. Mag writer is interested in learning more: twitter.com/tpopomaronis
How about talking to the New York Times writer that exposed them in 2015? When they brought in consultants from India, made TRU associates train them on how to do their jobs, and then tossed the American workers.
Time for a followup? Here is the original article:
https://nytimes.com/2015/09/30/us/toys-r-us-brings-temporary-foreign-workers-to-us-to-move-jobs-overseas.htm
What would be the basis for the lawsuit? They did a mass layoff of all age ranges, service time and position. The company can easily claim undue hardship. I'm generally interested as I would love to do so, but can't see how this would get very far (outside of not paying severance totals).
It is all about the money. NO loyalty---Take to social media---what TOY R US did is discrimination. If the company is NOT loyal to its employees----WHY SHOULD TOY R US CUSTOMERS BE LOYAL? TAKE TO SOCIAL MEDIA--Make your own u-tube videos. Go to face book. Why would parents and grandparents shop at Toys R Us when there is age discrimination. Tweet it let the world know how TRU treats it employees. We are all smart people start using your brain. Be proactive
STOP COMPLAINING---Take action get a lawyer we can get a class action suit. The lawyer do not charge the consultation is free.
There is a strong possibility that if the company declares bankruptcy. That ALL severances will STOP. That is why we have weekly severances and NOT one lump payment.
Anyone age 40 or over which is over 60% of people---We have a good case for AGE DISCRIMINATION
SEE AN EMPLOYMENT LAWYER recommending David Ben-Asher from upper Montclair
Toys is a sinking ship. So many executive level new hires all the time, but nothing changes. Bottom line is Toys R US sells overpriced junk produced almost exclusively in China. Stores are dirty and disorganized. Amazon and Walmart are kicking their butt, and that won't change. If their web store redesign doesn't save them, they will be out of business in the next few years.
Rest assured, the top level will use the money saved by these cuts to reward themselves with 35% defined bonuses next month!!
Just saying.... need to get the facts correct too. David was at Michigan not Michigan State.
Guys, careful with names here, that's not allowed. Admins remove your posts and block your IP. Just sayin'
I was wondering the same thing about the leadership team. Start with Dave Brandon. If you read about him online (he resigned as Athletic Director of Michigan State before this job) you will see he was not well liked and was practically forced out. Fans protested and rallied to get him fired. Feel bad for all the loyal workers and will never purchase anything from Toys R Us again. Go Amazon!