Mattel leadership announced to FP employees today that ImagiNext, Thomas, Barney, FP Entertainment, etc. are moving to El Segundo. They can't share any more details at this time - who's staying or who's going, etc.
Thoughts?
22 replies (most recent on top)
Who bought FP?
Why move some brands to CA and leave others behinds. There is no real financial benefit for this. The only way this makes sense is that the brands left behind have been sold off. Whoever was buying didn't want Imaginext and the other stuff that was moved to CA. Leadership is clueless but not this clueless. They sold what was left. Also I checked the WARN act listing. There is no listing for FP so this also tells me that FP is being sold and not mass layoff otherwise they would need to report.
Heard FP warehouse is being cleared out at a feverish pace. Not a good sign.
Any thoughts?
Get a new rumor and hobby sir. I’m sorry you were forced to retire but it’s unhealthy for you to still be stalking lay-off rumors.
Moog bought the EA campus. Your days are numbered in EA. Get out while you can. EA FP Engineering please apply via Moog jobsite.
Not yet. They like to give ea big, horrible news and then make ‘em sit and wait for what’s inevitable.
Anything happen in East Aurora yesterday…lay-offs?
They're not going to make more. Just slimming down to what the buyer of FP wants.
@2xdi+1r2e5Xdc Ooooooh that’s seedy.
I’m sure this also makes business sense that someone can explain, but how do they expect to earn more money off the brands that are already struggling when they’ll have to hire + onboard new staff (assuming people don’t move), train staff, and reorganize half the company all on higher CA wages? Won’t they lose money on this for the first year or two? I’m obviously not in business but it feels like they’re setting themselves up for failure.
@2dos+1r2e5Xdc HR and/or mgmt is choosing to do things this way so that if employees chose to move on of their own free will (find another job), the company will not have to pay severance should those employees otherwise be let go. This is a money saving tactic for them either way.
The part I don’t get is why did they make this snap decision without at least having a route forward in mind…usually when layoffs are announced you’ll know fairly quickly what your status going forward will be. Feeling like you don’t know and no one has the answers as to whether or not you’ll have a job in 6 weeks is horrifying.
I’ve watched FP get mismanaged for several years. Marketing and Sales has no idea how to manage toy sales, and items that could have been been big hits in retail stores were dropped exclusively online with no advertising. The brands moving to California aren’t going to change the issue that mattel either doesn’t know how to or they don’t want to market brands that aren’t Barbie or Hot Wheels.
40% reduction to FP campus. More to come
All you corporate drones that think you are inspiring children with manufactured junk deserve what you get. Enjoy your fragile future.
FP has been in decline for the past 10 years or so. It’s such a shame as the people there are very talented but have been hurt by Mattel association and cost structure. As someone who was affected by their many layoffs and attempts at consolidation, I wish those still there well and please know there are great opportunities on the other side as well.
@2vom+1r2e5Xdc source?
FP brand is being sold off. Mattel leadership saying that FP office will close in near future. AG and Mega already closing and FP campus will be sold off to Moog. Deal is already in the works. Plan accordingly.
Mattel stock buyback to cover devaluation from sale of FP. Simultaneously Mattel will purchase another company to hide losses and lack of profitablity.
Just add it to the list of destroyed companies sla-ghtered by Mattel. Such a sad day. Worst part is the failure of FP within the org is a self inflicted problem from mattel. It’s been a pleasure working with all of you but I have a feeling this is just getting started. Moving businesses massive cuts to what’s left leading to what looks like the sale of FP to another company. Hopefully who ever buys it can actually manage it.
With all these brands moving to Mattel why will they keep the FP campus open?
Make business decisions, shut down offices, do whatever the fu-k you want. But to come across the country to tell a campus that you’re taking half of their business away and don’t have a plan yet is infuriating. I’m a coin flip away from not having a job in 6 weeks and THEY DON’T EVEN KNOW YET if I’m going to be working here in April.
But I shouldn’t worry! I’ll have an opportunity to interview for my own job if I uproot my life to move 3000 miles, sell my house for a smaller one that costs five times as much and only get to see my family and friends once or twice per year.
Even if I’m spared, you’d better believe I’m polishing my resumé. I no longer think this is a job I can keep until retirement.
Mattel ki-led a perfectly good toy company…..FP.
Any chance Mega gets consolidated with FP? Or is it more likely that Mattel sells what remains of FP to another toy company that actually knows what they're doing?
FP Mabamex shut down in 2019. The leaders are heading to Mega Bloks tomorrow to shut it down. Power Wheels being shut down end of this year. Baby Gear ran into the ground. Now they are pulling the remaining brands out. Suprising FP campus lasted as long as it did. Maybe it was because of the swirly slide? Sad day for East Aurora and the toy world as a whole. As Big D*ck would say.... dOnward!