LOS ANGELES (CBSLA) — Toys ‘R’ Us announced that it will be closing an additional 200 stores due to poor sales performance during the holiday season.
The toy retailer also plans to lay off a significant portion of its corporate staff, according to the Wall Street Journal.READ MORE: Barbra Streisand Institute To Open At UCLA
This new wave of closures comes after the company announced last month that it would be closing over 180 of its nearly 880 U.S. stores, affecting 4,500 workers.READ MORE: Cooler Weather Helps Firefighters Battling Alisal, KNP Complex Fires
Toys ‘R’ Us, which has over 1,600 stores worldwide, will also reportedly be taking back a promise to offer severance pay.MORE NEWS: LAPD Declare Ghost Guns an 'Epidemic,' Seizures Up 400% In Four Years
Closures are expected to begin in February, most of which are set to take place in April.