What if we end up like Toys "R" Us? Does that mean all of us will be out of a job without any severance that can serve as some kind of a safety net until we can find new employment?
Is there a real chance of something like this happening any time soon? Or am I just panicking and being paranoid?
Severance is not a requirement. A company does it in return for you signing over rights like not suing. If a company goes under there may be no incentive as well as no money to give payouts. But toysrus was liquidated. It was after they filed bankruptcy. Mattel hasn’t even filed bankruptcy yet.
It amazes me everyone thinks they’re entitled to a severance.
I believe a significant factor in the TRU situation was that they had already filed bankruptcy. Mattel has not done this yet, but there is a real possibility they could be there within the next year.
For the people who were recently laid off, I expect their severance should be safe.
For current employees, you’re going to have to wait and watch the market, and try to make an informed decision as far as how long it’s worth it for you personally to stick around. You do have a choice, and I’d encourage you to consider what else you might do if Mattel is not the best choice for your career. Don’t be passive in this; you’ve got to look out for yourself and your family.
No it can happen, if mattel keeps this losing streak going eventually there wont be enough left for severance because like TRU the leadership will deploy their golden parachutes while the rest of you fall to earth with nothing but memories and this crap site.