Newer employee here. Hopefully it will not come to pass, but if layoffs are in the works, will they be big? Will they wait till after holiday? What about our friends with temp status? Thanks.
19 replies (most recent on top)
layoffs expected by months end.
"Of course Barbie is a fashion brand. And Hot Wheels is a lifestyle brand," said no one ever.
Show me one "cool" kid older than 6 who wouldn't get his arse kicked wearing a Hot Wheels backpack or hoodie to school. We've been deluding ourselves for a decade.
The sad part is that YOU will be laid off before the Barbie team because you are of lesser value. So shut up and know your role fool. If you're not on Barbie you don't rate.
What's going to be so priceless to see, is when the Barbie Team shows up to work once day soon, with their Gucci purses, sunglasses on and Starbuck's latte in their hands and find the doors locked with a big sign on the door that says "THE COMPANY IS CLOSED BECAUSE YOU DIDN'T DO YOUR JOB".
I'm going to be there to video it all and see them repeatedly bang into the door because they all can't READ THE SIGNS. <3
Shame on the company if they did.
Barbie is not a fashion brand. It doesn’t make it so just because you say it.
Shareholder should be ashamed of investing your money in this pathetic sinking ship. How stupid can you be?
There's far too much travel. Its expensive in both the actual cost of the travel and the lack of productivity. How much is ever really accomplished by having a face to face half way around the world when all that is really needed is a phone call or even screen time which is underutilised? Travel budget should be the first to go.
Everybody wake up from your naps - a real shareholder posted! No, no interruption at all. You are VERY welcome here. Please ignore the OP's silly concerns. How trivial for the OP to be caring about their future career and that and of friends or family. We are so grateful for your helpful constructive criticism, right now, in this very thread, it is completely appropriate.
they will def. cut the tenured higher salaries first and replace with younger cheaper labor. that’s just the way it rolls. has been for years. youd have to have a serious personality issue or deemed not a team player to be young and on the chopping block. don’t worry, you’ll be safe and miserable worry about when your time will come for a while.
First of all, sorry to the OP for whatever made you decide to come to Mattel. Mattel hasn't had 4-5 years of decline - it's actually been 10 - as it's all related to Barbie. Barbie has been declining steadily for years with various attempts of artificially showing growth by spending inordinate amounts of advertising (far above the normal 5-10% that a mature brand requires).
The layoffs will come in the form of campus shutdowns - first NYC, then East Aurora, then Madison, WI. Unfortunately, those offices actually work on the brands that create the current profit stream for Mattel. El Segundo is where the failure is, yet the company is going to risk all to move the profit drivers to the headquarters where everything goes to die. Only HotWheels isn't declining but it's sold it's soul to licensors with character cars, and is still based on low-priced (and low-profit) model.
Good luck, little millennial. I fear you'll learn too soon about how to sign up for Unemployment Benefits.
The company is pretty lean at the moment?! Did I read that response correctly? Lego have one bad result after 10yrs of success and announce a "right-size" and can find 1400 roles to cut - Mattel has 4 - 5 years of serious decline and has still only cut small numbers each year. If the investors get serious and pressure the board (as they should) there'll be massive changes - Office closures, no merit, no incentives, sell off of brands, huge head count reductions etc. It's about time people understood that Mattel are no longer the great company they once were. And whilst I'm at it: 1. has the success of any other toy company come from digital or technology? 2. Apart from being in the right chair as bratz came off retailer shelves, has RD ever been successful? The board has a lot to answer for... about time the investment community demanded change!
You said, IF we’re asked to cut...
Hey Shareholder, as I am. I didn’t say MAY. Read properly. I said travel is always first. There is always essential travel to develop product sometimes. And even then that has to be cut. You’re so into your own need to spout righteous indignation you don’t even bother to read. I have no shame doing what I am doing.
Last poster:
Spare us the 5th grader pep talk.
This company is performing horrendously! What we need are answers and solutions to this debacle our leaders have created.
Amenities within the workplace are great, but if the company is not profitable than it is all for not.
Keep in mind that Mattel is still the largest toy manufacturer in the world, as a toy industry professional you could do a lot worse career wise in terms of benefits, salary, interesting projects, global market share etc.
Shareholder here. You MAY be asked to cut the travel budget!? After how many declining quarters, you haven’t even done that!? Management should be ashamed, and so should rank and file for hitching your careers to this pathetic sinking ship.
Temps are from a diff budget. If we’re tasked to cut budgets travel is always first.
Vendor freelance are next. Then maybe temps.
By the way we all know execs still get some bonuses regardless of what they say. At least that’s what used to be. M-Go may think differently. Hope so.
Count on no merit increase in order to keep layoff qty. down...our new normal!
The company is pretty lean at the moment, I'd be surprised if the rank and file got hit with anything more then a light culling.