MARCH 21, 2025 — 120 HQ EMPLOYEES
The company is laying off 120 employees from its El Segundo, California headquarters.
A spokesperson noted, “The company is taking actions to streamline and strengthen our organizational structure to drive our growth objectives and optimize our operations. As a result, we are restructuring certain operations and reducing some roles across the global organization.
FEBRUARY 27, 2023 — LAYOFFS AT CORPORATE HEADQUARTERS
The company is laying off employees, including 93 employees at the company’s El Segundo, California headquarters to meet the challenges of "challenges in the macroeconomic environment."
According to an SEC filing, “Mattel's Optimizing for Growth program is a multi-year cost savings program that integrates and expands upon the previously announced Capital Light program. In February 2023, the Program was expanded to include additional initiatives, including actions to further streamline Mattel's organizational structure."
“This has resulted in a restructuring of certain roles and functions across our global organization as well as a workforce reduction.”
JULY 25, 2018 — Original post…
El Segundo, California-based Mattel has announced that it will be laying off 2,200 workers, mostly its non-manufacturing workforce in a massive restructuring in response to lagging sales and increasing losses. In announcing the Second Quarter results, Mattel CEO Ynon Kreiz noted, “Mattel is a company with great potential. We see a lot of opportunities, but there has been a big discrepancy between our financial performance over the last few years and where the company should be.” Joseph Euteneuer, CFO of Mattel added: "We are pleased to report that our two-year $650 million Structural Simplification program is on track.
There is no doubt that Mattel has been severely impacted by the use of electronic devices at earlier ages and the loss of one of the nation’s top toy retailers, Toys R Us which was Mattel’s second-largest customer. “We are in a turnaround and as expected, had a challenging second quarter driven primarily by the Toys "R" Us liquidation.” Mattel also noted that they will be selling manufacturing facilities in Mexico in response to changing capacity requirements. For those wanting to read the full story, Mattel’s News Release can be found here.
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. We see good people being laid off through no fault of their own. 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?
