Toys "R" Us to cut 200 corporate positions

Toy retailer Toys "R" Us, Paramus, N.J., plans to axe 200 positions at the corporate level, equaling roughly 10 percent of its total headquarters staff, in addition to the 700 store management and supervisor positions cut in January. The company issued a cautious profit as it continues to struggle with declining sales at its toy stores. "We are focused on improving our U.S. toy store performance, and continuing to reduce expenses while improving the effectiveness and efficiency of our company in 2003," says John Eyler, chairman and CEO, Toys "R" Us.