Heard that Asia sourcing and plants will be hit hard in Q1, more consolidation, pruning of leadership and accelerated move to contact mfg.
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Asia will be in addition to Mexico.
They announced plans to close or sell Mattel factories in Mexico, not Asia. More fake news.
Another wild card for Mattel is the ongoing trade dispute, which could potentially continue to derail its turnaround efforts, as many of its toys are manufactured in China.
Unlike rival Hasbro Inc., Mattel still owns many of the factories around the globe that produce Barbies, American Girl dolls, Hot Wheels cars and other toys. Mattel cannot continue to bear the cost of acdirect labor force and remain competitive. Simple math. Its just a matter of time folks...the Asia factories will close as O&Os and become vendors. SG lead the effort. The plans are already under way.