Just wondering. Former staffer, happy to be gone. For anyone who did get laid off: life is much better outside of the archaic management structure and "we've always done it this way" mentality.
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No executives were laid off but they paid bonuses to everyone then laid them off. So at least they got bonus and severance.
Wow, 40 to 50 % of a salary for a yearly bonus? So if you made 300k that’s 150k in bonus? WOW. Did any of those people get laid off?
In just five people, you have about $8million in bonuses. If the average employee made $100K that's 80 people they could've saved. I heard there were 60 that got laid off. $8million is more than enough to cover those who got wacked.
It’s the shareholders who should be furious at those payouts. Not only has everyone lost money with Mattel, but there’s been no dividends for years and no performance. This is an incredible example of greed at the top. You know there will be more layoffs over the next few months. Fisher-Price and AG are sliding off a cliff.
Can you imagine checking your bank account and seeing that $4.3 million deposit. Ynon is a gangsta.
Ynon’s bonus was $4.3M.
RD was $1.9M
Jojo the Clown got $1.6M (he got a bonus and got to stay beyond the 6 months!)
RI got $600K
Bob Abnormal got $685K
All of the other EVP’s have targets of 65% of their salaries, but the bonus was above target so they all got slightly more than 100% of their salaries as a bonus.
All of this is public information in the proxy statement. Not only did they not take pay cuts, they all took bonuses in excess of their yearly salaries. They should all be publicly shamed. Then they decided to cut 5% of the workforce.
I just saw on the news that a bunch of companies are laying off employees, and Mattel was listed as one of them. For those of you still at the company, was it a big layoff this time around, and what departments were hit hardest? Are there more layoffs to come or did they do them all last week?
If those were the bonus payouts, the entire leadership team (every VP and up) should immediately pay it back or be fired. Other employees just lost their jobs. Stockholders continue to lose money every month they hold onto this soon-to-be-worthless stock. The economy is in freefall and MANY employees (not just RD and Jojo) earned FAR MORE THAN THEY SHOULD HAVE for UNDER-DELIVERING. The Board of Directors should impose a salary reduction equal to that which was paid out to anyone making 40% or more of their salary. IMMEDIATELY
If you are an SVP your bonus was about 50% of your salary, VP 40% of your salary, Director 30% of your salary, Managers 15-25%, below these levels about 5%. So if your bonus was $2,700 you probably make about $54K as an Admin, sounds about right.
How much was the typical bonus? I was told my $2700 (before taxes) was ”sad.” I’m admin staff.
You're kidding me about this DirecTV sh–, right? They're literally one of the only companies that you could make an argument about doing WORSE than Mattel. And that's saying a lot.
I pity you people who are holding on to a mirage of directv. Clearly it’s a rumor. And you’re looking for anything to make you feel better.
Rolling layoffs through 2020 as segments of business decline.
Please STOP asking about DirecTV. They are not buying Mattel. DirecTV is a money-losing subsidiary of AT&T. They are not going to buy a money-losing toy company. This doesn't fit with AT&T's strategy at all. Perhaps the rumor started because they are thinking of taking over some of Mattel's real estate? DirecTV is located nearby in El Segundo. They are not interested in taking over the company.
And what plans Directv with us? I hope i can work their.
So what departments at the El Segundo campus are being hit? Marketing, design, product development, soft goods, etc.? And are people not working in the office seriously getting called at home from HR?
They can start with laying off the do-nothing VP’s. I mean come one, how how VP’s does a single company need?
Did anyone at VP level or above get cut? If you're targeting bottom 4%, that's a good place to start.
The only thing that interests me who will go to directv and who Not?
The workers from ES?
let's make it even more top heavy
@1avu+14N45YD6 you need to keep in mind that Mattel has tens of thousands employees across the globe. Is it good that a certain number of these ex Fuhu employees have managed to stay under the radar and avoid being let go? No, but it isn't really surprising either. This organization is rife with fraud and corruption, the Fuhu people are a drop in the ocean really, it's the higher ups and the corruption over in Asia that you should really be concerned about.
Maybe they go to Directv.
I heard Mattel still has dozens of employees on payroll associated with the Fuhu acquisition from a few years ago. Apparently they're scattered around the world in various US and international locations and have seemingly slipped through the cracks, still getting a paycheck without having much of a job to do since Fuhu operations have been shut down. It's just sad that real, hardworking Mattel employee's are being let go while these Fuhu people hang on.
Within AG as well.
Yes layoffs at FP
Global workforce reduction n process.
Yes, and more today
Did FP get hit?
Yes they just gave out bonuses, and yes they could have saved some jobs. But the executives also wanted their bonuses so they decided for more layoffs instead. They know the boat is sinking so they are giving themselves liveboats first.
Former staffer at AG... What departments were hit... Any initials that can be shared?
I'm a former staffer but still in touch with many Mattel people. Didn't they just give out bonuses a month or 2 ago? I would think they could have used that cash to save jobs.
Yeah, every department in ES is getting hit.
Yes they have.
Does this include American Girl? Also just wondering. Another former staffer happy to be gone.
Yes they have, a 4 percent reduction in the non manufacturing workforce.
Not a good time at all to be laid off.
I'm concerned that those being layed off may find themselves unemployed in one of the least hospitable job markets in at least a century.