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JayC

$10 Million Severance Fund Being Set Up For Toys R’ Us Employees

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It was announced that pivate equity firms Bain and KKR who owned Toys R’ Us before closing all the US based stores here in the United States has pledged to set up a $10 million fund for former employees who were laid off. 

Only those who worked at Toys R’ Us for at least 1 year with an annual income of no more that $110,000 or less than $5,000 will be eligible for the plan.

Source: CNBC

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They owe the employees that much. Executives pursuing bad business practices and slowly destroying themselves from the inside out - then closing up shop and laying everyone off only to “return” a few months later.

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I didn't see this coming. I guess since the brand is staying around, they had to do something to save face where if they weren't coming back the execs would just let it go. 

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