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US: Toys R Us lays off 10-15% of HQ employees

Worldwide toy retail chain Toys R Us has announced that approximately 250 jobs have been eliminated from its New Jersey HQ, accounting for 10 to 15 per cent of its home office employees.

"The recent changes are not just about cost-containment," explained Amy Von Walter, Toys R Us EVP of global communication and PR, in a statement.

"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."

Analysts have attributed the cut backs to the firm’s weak holiday sales and struggle to compete with online retailers.

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