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.
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preschool is struggling because of the morons in charge of these companies. Kids don't want watch me toys when they can get their hands on a tablet or smartphone and be occupied for hours instead of 30 second of elmo singing a lame ass song. What parent wants to pay $80 for that shit nowadays?
Hit has for the most part one license that is successful. Everything else is mediocre shit at best. Not enough to keep that office afloat.
How many total (layoffs at HIT)?
Why are you so negative about HIT? What are your main concerns (aside from location). I have been with HIT for about 4 years now and I have somewhat different opinion.
But they can't seem to get their focus on products and kids. Too much talking to themselves and ego gratification.
Not every company in the preschool space has two offices in high-rent cities like London or New York, struggling or not.
Every company in the preschool segment is struggling