If the field reps are being reclassified as part time to avoid paying them benefits, that's reprehensible, but also sounds like something Mattel HR would do. Hearing it's either tomorrow (3/5) or next week on 3/12 as well. Hearing also that the cuts may extend up into the boardroom, including CFO and head of HR. Hope the CFO doesn't drive his Ferrari to work this week or next week as he's done in previous layoffs...
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They should be looking at upper mgmt. way too many VP and director. Top heavy and too many contractors. ther is VP and 1 director per area. Sometimes director only has 2 people reporting to them. Those are not sr.mgr either sometimes. It doesn't make sense. Then there are sr. Mgr and/or director with no direct reports. They just have title and salary. Sad place!!!!!
Management sucks! They promote people who have 1 skill to director or VP but no meme skill or leadership. Some are hands off and some are way too in deep involved with day to day that wonder why they were promoted. No flexibility. No work/life balance. Very sexism especially in IT. They are trying to have female mgt but just to show on paper.
Stockholders need to stop the looting by all the VP's (100's of them) and above before this once proud ship goes under for good. When senior mgmt. tells all that long meetings are one of the reasons for Mattel's problems, then you have to question if they know what the heck is going on. The innovation that they seek is in place at the lower ranks...it's just stifled by the indecision from above and the burden of the overhead to maintain the hundreds of VP's and their cronies. Matty Mattel is being compromised by all of those who serve their own agenda over the needs of the company. It won't be long now.
CFO should ABSOLUTELY go. Who do we have to thank for all of this? The person who advised Stockton that his unachievable goals were a good plan for the company then approving this plan. For someone that has access to the highest levels of company finances this seems ludicrous to think for even a moment that he didn't know this would NEVER work. Someone with years of industry experience. Someone with an advanced degree. It's simple math, essentially. Sounds like a bad Oliver Stone conspiracy film, but unfortunately it's now Mattel employees reality. I sympathize with everyone here, but let's recognize who the true architect of this company's collapse is.
I would not worry about the CFO or any C level person - they are sitting on many millions of dollars and they could care less about layoffs