Mattel has announced the layoff of 120 employees from its El Segundo headquarters as part of a larger cost-cutting strategy. This decision comes amid ongoing challenges related to tariffs imposed by the Trump administration. The affected positions include various management roles and designers. Mattel has a target of achieving $200 million in savings by 2026, with a significant portion aimed at cutting 'selling, general and administrative' expenses. The layoffs, effective May 19, are expected to be permanent as the company restructures its operations.
"As a result, we are restructuring certain operations and reducing some roles across the global organization," she added.
"The mass layoff is expected to be permanent," the document said, noting that most of the layoffs will go into official effect on May 19.
Mattel plans to find $200 million in cost savings by 2026; this layoff appears to be part of that push.
30% of those cost cuts are aimed at what's known as 'selling, general and administrative' expenses - such as the salaries of the marketing and design directors.
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