That's the word.
Good luck, all!
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Directv we come.
I wish you a good Friday💋
It’s definitely not a hoax. it’s happening Monday and Tuesday and it’s massive. Across all divisions. Ynot’s townhall is the day after on Wednesday. Brace yourself.
This is a hoax, don’t scare people.
If true - of course it happens on the day they issue their latest "We Care!" PR stunt for Covid-19.
Pre-Order Now!
any word on what departments are being hit? or is the carnage across the board?
Housecleaning started. 37 verified layoffs from El Segundo so far this morning. Surely more by day's end. Turn your phone off and burn your sim card.
Correction: July 1. The period of time which the government will support payroll.
Americans are fine until June 1. After that, edits might have to be made. The company is not a charity.
Just a thought. If you’re not one of the people who is secretly praying to be laid off, you might not be working hard enough. And if you’re in a position to be let go, and it happens, be grateful to live in a society that provides something of a safety net so you can go back to school and catch up again. Good luck fam. Please focus on helping each other, not for publicity, but for real. Focus on kindness, and whatever you do, make sure it’s something you can be proud of even when nobody sees it. Remember there are still people here who care about you and are working very hard to save everyone’s jobs, so if you are able, try not to let them down.
The tax/audit team can be outsourced completely, that’s for sure - those id–ts nearly brought the entire company down in 2019 and investigated by SEC still ongoing.
you have to know
Love the enthusiasm from uneducated employees, but DirecTV is not buying Mattel. DTV is a dying brand that is owned by AT&T, possibly the worst acquisition in their history. No reason AT&T would want to get into the toy business, especially with another dog of a company. Sorry.
This week will be quiet. next week will be a bloodbath. But none of the brass will get tarnished.
Hopefully
Hey alright! Glad to see someone is a on the ball this am. You understood my pun, congrats to you. The coming week will be interesting.
Earnings release is May 5th, everyone getting laid off will be notified by May 4th. “May the fourth be with you” is a play on words from the phrase in Star Wars, “May the force be with you”. Hope that helps you to understand.
May the 4th be worth you then...
The ax is falling the day before earnings and an inspiring townhall will be held the day after, once the bodies are disposed of.
Why a great bonus then lay-off? The stimulus requires they keep everyone through July or they loose the ability to use as a free grant!
Hopefully RD & CDown, if there is any justice in the world. Only then can the healing begin. Has Jojo the dancing CFO left yet? April is nearly over. How big was HIS Golden Parachute?
I know of 2 folks that were let go today in ES. Maybe it's not as sweeping, or maybe they're rolling them out slowly?
Or maybe with everyone at home word just isn't traveling as fast?
They decided to cancel the layoffs at the last minute.
Nothing happening. Must be bogus.
I don’t see anything happening
Is it happening in EA?
Guys, don't think of it like they're firing 20% of the worker, think of it like they've found a way to let 80% of us keep our jobs! 🤗
Did you just say “trans media”?
I just fell out of my chair marketing guy.
In case you haven’t noticed.
No one is going to the movies.
Toy sales are down.
Target cut 13 fashion doll properties.
Mattel has never had any success in making a movie.
Mattel has a top heavy structure where less people do the actual work but most of the pay goes to the top 10%.
Mattel’s brands aren’t as good as they internally like to talk about.
Mattel continues to force margins that are unsustainable and not allow it to be competitive. Let alone compete in other categories.
I could go on but you’re probably smart enough to get it.
Mattel’s problems are all self inflicted. Brought about by hanger ons who are just trying to get theirs before the end.
It's not suprising to hear they're cutting 20%, like you said Mattel hasn't been a healthy business for the better part of a decade.
That being said, comparing Mattel to Disney in terms of Coronavirus impact is apples to oranges. Disney operates giant theme parks all over the world and ESPN depends entirely on live sporting events for content.
Mattel is a entertainment production business that also manufactures toys based on their world class portfolio of transmedia IP. If anything, toy sales should increase along with movie and TV consumption as kids find themselves stuck at home all day, and that's Mattel's bread and butter.
YNot and RD have decided your fates.
And by the way their salaries aren’t getting cut. And the board is going to protect their dividends before they sell the company to an investor group.
They’re just trying to make the company look good on paper while you all Wait From Home.
I’m working on cutting people’s final checks for 4/30. 20% of personnel.
And we’re working on MOA at the same time.
No sense in prolonging the inevitable.
You really don’t want to know how much money Mattel is currently losing.
Think of it this way. If Disney that’s a multi Billion dollar company is shedding hundred thousand jobs how would Mattel that has been s—ing on fumes for years not do the same?
Happily accept your pay cuts and just be grateful you still have a job. Any deviation or insubordination from or during the layoff process will not be tolerated. All employees who do not comply with termination protocols will be be summarily punish in the most extreme way as allowed under California Labor code 437 section C. Remain calm and this will all be over soon, alright. And no stealing computers, you got that!
It’s a lay off not a firing. Which means we’ll give you a few days to your final day to transition your work to the next remaining sap who’ll do 3x the work for less pay. As well as turn over all your company assets.
Do you think we haven’t thought of all that?
Did I tell you that we’ll be cutting all the salaries of whoever is left?
Guess you’ll have to find out tomorrow.
If they fire you, how can they consider it a resignation, regardless of anything else. Serious question. Seems just silly to even suggest that. 😂
Hey you can always move to Aw-strail-yah and join the other leftovers at Mousse toys.
Hahahaha. Oh wait they’re about to do layoffs too.
We’ll send you a fedex box, bubble wrap and a prepaid return label.
In return we’ll mail you your personal effects. We have a no contact policy so it’s all going to be touch free. We will send you a doc which will outline your severance and your continuing non-disclosure statement of all Mattel in progress IP for the next 12 months.
This you will need to e-sign to receive your final severance.
If you do not return your equipment your action will be considered a resignation and you will forfeit your severance.
Sound good kids?
If I get fired while working from home, I'm not going to steal my computer because stealing, even from a giant corporation who just cut you loose into the worst job market ever.
That being said, I might not be super fun eager to pack it up and drive it all the way back to campus to give it back either. Maybe they can send someone over to my house to collect it of they want it back so bad. Is there anything wrong with that?
Better figure that out so you can fill out those unemployment forms.
From under the lake that is.
Actually, you don't even need to install a new OS or anything like that. All you'd have to do is not log into the Mattel VPN, which you won't be able to do even if you wanted to since they'll cut off all your access to internal networks like email etc anyway as soon as they fire you.
I'm not saying you should steal your computer, but maybe if it fell into a lake during a boating accident, well I mean these things happen all the time.