Mattel cuts staff worldwide
By Staff -- Playthings, 11/6/2008 11:41:00 AM
EL SEGUNDO, Calif.—Mattel announced today it would pare approximately 1,000 positions from its payroll worldwide in the face of tough economic conditions.
The job cuts will be achieved through “a combination of layoffs, the elimination of open requisitions, attrition and retirements,” according to a company statement. In total, the reductions represent about 3 percent of Mattel’s worldwide workforce, which translates to 8 percent of the company’s professional and management staff.
Mattel’s move follows a strategic initiative to analyze its cost structure to identify “tangible opportunities to drive higher productivity and effectiveness in all areas of its global business.” It found that “the current economic environment has amplified the company’s need to address the appropriate future structure of the business, which includes streamlining its global workforce.”
Seventy of the jobs cut were at Fisher-Price in East Aurora, N.Y., and 170 were at Mattel's El Segundo, Calif., headquarters, according to published reports.
According to Mattel’s statement, “This decision was an extremely difficult one; particularly considering the impact this action will have on our employees and their families. We are committed to treating every employee fairly, and with dignity and respect. In order to help our employees through this difficult transition, we will be offering severance benefits.”
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