When we made toys every kid wanted to have? When layoffs were not something we had to think about all the time? Can we go back to those times? I miss them.
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@dt Neil was reamed royally when they names BS as the next leader and lets face it, BS was all he was. He started the cost reduction trend to such an extent that the magic was truly cost reduced. Sadly that is everywhere in the industry now. everything is less than quality garbage.
Bob E was the last qualified CEO, but he didn't know toys. They should have hired Neil F. after him.
@dq yes, Mattel has had an especially bad track record with women as CEO, thanks for highlighting them. /s
Layoffs have always been a biannual occurrence dating back into the 90’s. They are not new, never been well thought out or fair. Used to be a number of people that kept layoff lists in the DC. Any Mattel veteran of 20-30 can confirm layoffs . . Executive compensation has always been out of balance also! Former CEO Barr0d in the 90’s got 50 million for terrible results. That payout was n February 2000. Former CEO (12month tenure) Marg0 Ge0rgiadis got 38 million in 2018. Company lost 1 billion as noted in 2017 Annual Report on her watch. These type of execs just get to the 15th floor. And nobody stops the outlay of cash for their severance. These are just two top level examples. Add your info to the next post. Im sure there are many more!
Management used to have thick skin and could take being pushed back on if what was being said had some merit. It’s a yes man/woman culture at Mattel now. Most with any experience have been pushed out, replaced with lower wage workers that are just happy to say they work for Mattel.
This ultimately amounts to a cr-ppy workplace
You see, the problem was that executive compensation was inadequate. Those folks deserved a bigger, ever-increasing, slice of the pie. As a result, some adjustments needed to be made.
And here we are today...