According to a report in Deadline, workers who are leaving held titles including manager, director and VP according to information released in a publicly available report by California’s Employment Development Department. The layoffs are separate from other actions that may be announced later due to the looming prospect of tariffs.
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 organisational structure to drive our growth objectives and optimise our operation,” according to a Mattel spokesperson in a statement issued to Deadline.
The reductions follow an announcement last year of a cost-cutting effort designed to boost profits and achieve $200 million in cost savings
Mattel CFO Anthony DiSilvestro has reminded investors in recent weeks that the company has worked for several years to diversify its manufacturing process to change where it manufactures its toys. He has also said pricing changes could be an option in light of the tariffs. China, which generally represents about 80% of global production for the toy business, will account for less than 40% of Mattel’s total output in 2025, he said on the company’s fourth-quarter earnings call last month.
While the traditional toy retail business remains a core revenue source for Mattel, it has recently expanded its strategy to encompass entertainment. Barbie, the Warner Bros film based on the classic doll, was the highest-grossing movie of 2023. The company also recently set a major licensing agreement with Warner’s DC, spanning a number of high-profile properties.
