Feeds

etoys cuts 60 per cent of staff

380 leave today

  • alert
  • submit to reddit

Internet Security Threat Report 2014

eToys today announced plans to cut 60 per cent of staff in a bid to stem losses.

The US toy e-tailor said it would get slash around 700 staff - 380 left today, with the rest due out by 31 March.

It no longer expects to be profitable in its fiscal year ending 31 March 2003, according to a statement. Nor does it expect to reduce its quarterly loss year-over-year starting in the quarter ended 31 December 2000.

It also expects to shut warehouse operations in the City of Commerce, California, and Greensboro, NC, in the next 30 to 60 days. Those businesses will be consolidated into its existing distribution centres in Ontario, California, and Blair's, Val.

Los Angeles-based eToys warned about the job cuts last month, when it said poor sales in its third quarter meant it would not meet revenue forecasts. At the time it said it would post losses of up to $85 million. Yesterday the company said it would shut its European operations in the first quarter of this year. ®

Related Stories

eToys to shut doors in Europe
eToys warns on revenues
eToys softens under grassroots pressure
eToys throws UK out of affiliate pram

Choosing a cloud hosting partner with confidence

More from The Register

next story
Inequality increasing? BOLLOCKS! You heard me: 'Screw the 1%'
There's morality and then there's economics ...
Spies, avert eyes! Tim Berners-Lee demands a UK digital bill of rights
Lobbies tetchy MPs 'to end indiscriminate online surveillance'
Google hits back at 'Dear Rupert' over search dominance claims
Choc Factory sniffs: 'We're not pirate-lovers - also, you publish The Sun'
While you queued for an iPhone 6, Apple's Cook sold shares worth $35m
Right before the stock took a 3.8% dive amid bent and broken mobe drama
How the FLAC do I tell MP3s from lossless audio?
Can you hear the difference? Can anyone?
4chan outraged by Emma Watson nudie photo leak SCAM
In the immortal words of Shaggy, it wasn't me us ... amirite?
prev story

Whitepapers

Providing a secure and efficient Helpdesk
A single remote control platform for user support is be key to providing an efficient helpdesk. Retain full control over the way in which screen and keystroke data is transmitted.
Intelligent flash storage arrays
Tegile Intelligent Storage Arrays with IntelliFlash helps IT boost storage utilization and effciency while delivering unmatched storage savings and performance.
Beginner's guide to SSL certificates
De-mystify the technology involved and give you the information you need to make the best decision when considering your online security options.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.
Secure remote control for conventional and virtual desktops
Balancing user privacy and privileged access, in accordance with compliance frameworks and legislation. Evaluating any potential remote control choice.