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Report: Major layoffs coming to Wayne-based Toys 'R' Us

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Toys 'R' Us signage at its Times Square location
Toys 'R' Us signage at its Times Square location - ()

Wayne-based Toys 'R' Us is planning a major reduction in head count in a cost-saving move, the New York Post reported Monday.

The Post reported the company will lay off 200 employees.

Kathleen Wayugh, vice president for corporate communications, said the company would have no comment on the report.

According to the report, the layoffs at the Wayne headquarters are just a part of a global restructuring.

Toys 'R' Us has been in a battle to maintain its position in the toy industry for years, battling large retailers, such as WalMart, and online retailers, such as Amazon. In addition, it faces a struggle against kids turning away from traditional games to electronic gadgets.

The company, which went private in 2005, is easily the biggest private company in New Jersey with revenues of more than $13 billion. (See list of N.J.'s largest private companies)

Antonio Urcelay, who took over as CEO in October, was ranked No. 72 on the NJBIZ Power 100, our listing of the most powerful people in business in New Jersey. (See our Power 100).

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Write to the Editorial Department at editorial@njbiz.com

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