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No fun 'n' games here - eToys axes its remaining staff

Published: 06 Feb 2001 09:28 GMT

Struggling toy e-tailer eToys on Monday issued layoff notices to its remaining 293 employees as it anticipates going out of business in early April.

"With today's action, the company has now issued job elimination notices to all of its employees, with service dates continuing up to April 6," eToys said in a statement. "In order to continue operations in 2001, the company will require an additional, substantial capital infusion," the company said, adding that it "does not believe that additional capital will be available to the company".

The job cuts came at the toy e-tailer's Ontario, California, and Blairs, Virginia, distribution centres.

Last month, Los Angeles-based eToys laid off 700 of its 1,000 employees.

The company fell well short of its sales goals during the holidays and said again Monday that it anticipates only having enough cash to last it until the end of March.

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