Mattel Laying Off 120 Workers As Part Of Cost-Cutting Push As Toymaker Also Reckons With Tariffs
deadline.comMattel, the major toymaker known for brands like Barbie and Hot Wheels, is laying off 120 workers. The El Segundo, CA-based company disclosed the planned cuts via a California-mandated WARN notice to state and local officials.
The workers who are exiting held titles including manager, director and VP, according to the notice, which was included in a publicly available report by the Employment Development Department.
The number of workers leaving is a small fraction of the company’s total workforce of 34,000 as of the end of 2024. The reductions follow an announcement last year of a cost-cutting effort designed to boost profits and achieve $200 million in cost savings.
The cuts “are intended to strengthen our organizational structure to drive our growth objectives and optimize our operations,” a Mattel spokesperson told Deadline in a statement.
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