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Mattel Cutting 2,200 Jobs In Response To Toys R' Us Closing


JayC
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CNN reports that Mattel will be laying off around 2200 employee's in an effort to save money after suffering loses in large part due to the closing of Toys R' Us stores this year. They will also be closing all factories in Mexico. Most of the job layoffs will be in back-office and support roles.

Sales fell 11% between April and June for the company however it wasn't all bad for the company as Barbie sales grew 12%, and Hot Wheels sales were up 21%. Jurassic World products also sold pretty good for the company.

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I was just reading a Wall Street Journal article about this, and came over here to see if anybody had posted about it yet... Especially after the tremendous showing Mattel had for the DC Multiverse line at SDCC — which is their signature output, for me personally — the first thing I thought of was, ‘How many of the good folks that had a hand in bringing us all those cool looking prototypes, just lost their jobs?’ I know they’re calling it ‘back office’ and ‘support roles’, but still, some of those folks probably aren’t that far removed from the designers and artists, themselves. And all this leads me to suspect that some of those figures may never make it to retail — and those that do, may be jumping up in price, as a result of all this.

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8 minutes ago, sXeblues said:

I was just reading a Wall Street Journal article about this, and came over here to see if anybody had posted about it yet... Especially after the tremendous showing Mattel had for the DC Multiverse line at SDCC — which is their signature output, for me personally — the first thing I thought of was, ‘How many of the good folks that had a hand in bringing us all those cool looking prototypes, just lost their jobs?’ I know they’re calling it ‘back office’ and ‘support roles’, but still, some of those folks probably aren’t that far removed from the designers and artists, themselves. And all this leads me to suspect that some of those figures may never make it to retail — and those that do, may be jumping up in price, as a result of all this.

Most the job cuts seem to be less with the people who make the toys and more on the back office end. Mattel was just starting to take steps to better their communications and promotion of these products which had been severely lacking in recent years and I fear any recent improvements in that regards that had been made will be nullified by this. Either way though it sucks to hear about people loosing their jobs regardless of their roles.

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1 hour ago, JayC said:

Most the job cuts seem to be less with the people who make the toys and more on the back office end. Mattel was just starting to take steps to better their communications and promotion of these products which had been severely lacking in recent years and I fear any recent improvements in that regards that had been made will be nullified by this. Either way though it sucks to hear about people loosing their jobs regardless of their roles.

Agreed.

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This is very sad, but these are the basic rules of the market: Supply and demand. If they are assuming that the sales will drop and demand for product will considerably fall, there is no reason to keep a big working force and keep the cost of production high. If things change and the demand gets high again, they will probably hire more people. 

I hope these people find  new opportunities somewhere. 

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Well, I was reading this old news, and although it is a little late I would like to clarify that those supposed Mattel factories that were closed in Mexico are not such, in fact they were warehouses and distribution facilities, the only Mattel factory established in Mexico was closed almost 30 years ago.

 

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