JULY 29, 2023 — 12% - 13% OF THE WORKFORCE TARGETED
According to an SEC filing…
On July 27, 2023, Funko, Inc. implemented a reduction in force expected to involve approximately 180-200 employees, representing approximately 12-13% of the Company’s workforce. This action is part of the Company’s initiatives to re-balance its cost structure into prioritized areas that the Company believes will drive long-term growth and improve margins. As the Company focuses on these goals, it is consolidating functions and eliminating or reducing investment in areas of lower focus.
April 21, 2022 — Original post…
Everett, Washington-based Funko, a manufacturer of toys and licensed and limited pop culture collectibles, including action figures and bobbleheads, announced the consolidation of its global distribution, including two distribution warehouses in Everett, Washington, and one in Puyallup, Washington to a 958,000-square-foot warehouse facility in Buckeye, Arizona.
The relocation will impact 258 employees commencing on June 9, 2022.
According to Funko CEO Andrew Perlmutter, "The consolidation of several warehouses to one single facility will better improve our customer experience and maximize growth opportunities as our business scales."
Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?