Mattel to go BK by end of year, mark by words.
21 replies (most recent on top)
If the cut to the 401k match isn't enough to twig you to the fact that the ship you're sailing on is sinking, I don't know what will mates.
@ituv not sure if your $2700 is before or after taxes. Assuming before you should be sad.
Is there someone who knows sth. from Directv?
@igrt+14xosVNH God, I hope that's truth. To know that company resources were being spent on that would be legitimately poetic.
No. That is right.
Rumor has it the DirecTV troll works in HR at Mattel. This is their strategy to try and get people to quit logging on and posting about Mattel.
DirecTV will buy us with government money.
Yes, Ynon just announced that 401K match has been cut. His salary will remain the same.
How much were bonuses? Should I be proud or sad about my $2700
The troll claimed this awesome buyout would happen by April 30th. Will he go away after that?
I wish this site could block the troll that keeps claiming Mattel will be bought out. Any one with half a brain knows no one is buying Mattel. It shouldn't even be up for debate
Look, what really important here, we get half day fridays bac or not? ok
We need to assume that there will something happen in that situation.
Um, not sure why anyone would be excited by a buyout. Any new buyer (if it's another toy company) will likely gut the bloated overhead and simply take on the Mattel IP and design/develop toys using their existing talent and workforce. Maybe a handful of people will keep their jobs, but if it's a toy company, they already have designers, packaging designers, planners, manufacturing, sales, marketing, human resources, finance, etc. etc. of their own. If a private equity firm buys Mattel, they will cut headcount to the bone and will be a sweat shop. Layoffs either way.
Stimulus? Stimulus is only for small businesses. There are many companies the size of Mattel who are cutting 401K matches, cutting salaries (and to be fair CEOs are cutting their own), furloughing employees, and laying off employees, and any combination of the above. It is happening. I'm glad Mattel is soooooooo confident we will be okay.
There will be a buyout.
Mattel is not eligible for stimulus from the government. It is now all up to our fabulous leadership team to save us. They agreed they will not take pay cuts and instead will lay off more workers.
@2twi+14xosVNH
Just an FYI, June is actually in the Summer, not the Fall.
The stimulus will hold all in place at least till fall, if they applied and received - all employees paid through stay at home must be on payroll still/by June 30. Blessing. After that, no one can predict.
No way, we just got bonuses. Mattel is swell. Recession proof and we have the best leadership of any company out there. Onward!!