Why would you want to work for a company in which a layoff is an annual event? The stock hasn't moved from around $20 in over 20 years. Only way VP's and above can get their bonus is to sacrifice their people.
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In 1995, Mattel was a $4.5B company. They had a VP of Boys engineering and a VP of Girls engineering. The Quality team was led by a single VP. Mattel was a Fortune 500 company.
In 2024, Mattel was a $5.4B company. SVP of engineering with several VPs reporting in. Quality team with an SVP and at least two VPs reporting in. This goes on and on throughout the company.
This, after acquisitions of AG, Tyco, Printpaks, The Learning Company, Radica, FUHU, Mega Brands, etc. Mattel is no longer a Fortune 500 company (or just barely hanging on). Adjusting for inflation, it’s a smaller company than it was 30 years ago. The business revenue does not support the current leadership structure. And the workers suffer in times like this.
Some cr-p managers and good ol' boys still exist at the company that were are still there. Just means the next round will be a better clean up
seems that some managers/directors 'had no clue' who/when this was happening. they had no say and were informed the week before about it and nothing they could do to 'save' anyone. many in middle management were 'hit blindsided' by the news.
ES was 120.
200 total North America.
Numbers seem small until you realize these cuts happen every year, open headcount is revoked, and only 10% of the people do 90% of the work.
It won't surprise me to see some major business or regulatory sc--w ups by the remaining people because almost all the experts have been laid off or knew better and have departed.
Still don't know why they need more VPs than people that actually work. Instead of making VPs that don't do sh1at get people who actually do stuff. stop rewarding people for just sitting in the same spot with a promotion. it's not the dang post office. if you are not producing or increasing your output you should stay where you are. you should be happy to have a job. that place rewards mediocrity.