80+ people age 50+ already took an early retirement package. Additional cuts are expected to be forthcoming. Some of the best seasoned employees are leaving and the company places no value on experience and knowledge of manufacturing. It is obvious that they only want to reduce overhead by eliminating the older workers and replacing them with Chinese Designers and Engineers. I wish them luck in trying to become a viable business. Reduce costs by getting rid of executive staff that adds nothing to the bottom line except a monthly bill for a car.
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They are closing the HIT offices worldwide and consolidating the teams into Mattel as part of this. Something that should have been done years ago, but fiefdom protection reigns strong at Mattel... Part of the HIT layoffs will be from redundancy, and others will be part of assessing group performance.
I heard much more than 9, someone from our team was getting minute by minute updates from their contact at the HIT office and by 4:00, it was up to 15 people. Number was going up as time went on.
I was told at least 9 have been let go from HIT Creative team today.
What are the terms of the early retirement package?
heard that the HIT office in NYC is closing and that 60+ people are coming over to the NYC office. Hmm, wonder who gets the boot and who gets to stay in that office...
Cinfirming this