Getting a tiny raise and bonus on the heels of layoffs and strongarmed "retirements" leaves me even more concerned about management decisions. Last year, the official party line was "no raises or bonuses, so we can avoid a layoff". But many people still got them. Quite frankly, my raise & bonus feels a bit like blood money. We all know Mattel is in dire straits, and many people are interviewing outside and leaving on their own. A little extra beer money isn't going to change anyone's mind about that. To restore confidence in the company, I think it would have been more prudent to have another REAL wage and bonus freeze (including everyone up to the acting CEO) to save jobs, coupled with honest and inspiring communication with upper management about our future. But as usual, no one is thinking long-term. This is a quick-fix band aid. Sadly, the worker bees have adopted upper management's short-term grab & go philosophy. Now that the bonuses are out, more people will abandon ship at first opportunity, be it a job a Hasbro, Spin, Jaaks, or just getting in line for the next wave of retirement. What will the new age of abandonment be, 40's down from 50's? Mattel is ripe for becoming a reality show, kind of a cross between Survivor and Logan's Run. Maybe there's money in licensing that show out to the networks.
1 reply
I don't agree with this. If they had frozen salaries a second year in a row there would be an even more mass exodus.