Toys “R” Us executives and many of its employees will say goodbye to their jobs on Monday, Business Insider reported.
CEO David Brandon will also reportedly leave the firm. Most employees won’t leave with severance pay.
Amy von Walter, a spokesperson for the company, told Business Insider that the company “did not achieve the financial targets necessary to trigger a payout.” It was previously reported that Brandon was slated to take home $2.8 million.
“Several hundred” employees will be staying around to complete the company’s wind-down process, von Walter said.
About 33,000 employees were impacted by the liquidation of Toys “R” Us. Some 735 stores are to be shut down.