in 1999, Hasbro stock dropped by about 50%, and the outlook for the company was dire. Immediately: 1. Many jobs at Hasbro’s main office were cut. 2. Hasbro’s Kenner office was closed down (only 70+ employees were retained and moved). 3. Hasbro’s Galoob office was closed (all jobs eliminated). 4. Hasbro’s Cap Candy and Hasbro’s OddzOn offices were closed (only a couple of employees retained. 5. Hasbro’s Tiger Electronics offices were closed (key people, future Hasbro leaders, were retained). It was a bloodbath, and it was horrible for everyone involved. Many mistakes had been made previously and it was time for a company course correction. Those moves and the company’s re-imagination is what led to today’s Hasbro success. While no one wants or looks forward to these situations, they happen. This past year Mattel’s stock has also dropped about 50%. If you work at Mattel, PLEASE prepare now. Have your portfolio and your resume up to date. Reach out to headhunters and start those conversations. Hope for the best, but be prepared for the worst. Being prepared for these situations can make the world of difference and brings some control and ownership back to you, especially in times of uncertainty.
5 replies (most recent on top)
why don't you all shut your yaps and stop with the armchair analysis. Mattel is in the dumps because of greed and hubris. post some of these yahoo!'s at the tops emails and ill set their backsides straighter than an arrow.
In 1999, Hasbro hadn't "made mistakes" but instead was a house divided. You had Kenner vs. Hasbro and neither one owned all the answers. The solution was a visionary leader who saw the future and that the brands he owned could be so much bigger and more relevant if they told their stories across toys and all other forms of media. He wisely aligned with the best licensor in the business, Disney, to learn from and built an empire over the nearly 20 years he's been there.
Hasbro and Mattel are nearly the same size yet the stock prices are vastly different. Hasbro's success began in 1999 and took a long time to bring to fruition. Mattel does not have the luxury of that kind of time to turn things around, yet it also doesn't have the leaders with the correct experience (and a work force that follows) to pull this off in a shorter time frame.
So I guess OP, that we can wait 20 years for the ship to right itself? Great. I got all the time in the world. So do shareholders I guess.
so? who doesn't like wings? that's like saying farts aren't funny. don't be such a drip.
so?