Time to pack my bags... This is stupid...
13 replies (most recent on top)
Mattel's "Work/Life" balance = Work you to death, give you no time off (ask Shared Services), then boot you out the door.
So true about Shared Services and really anyone below Senior Management . I know some Shared Service members have basically been abused by marketing and design with constant changes and too much workload. These 'team members' are there late hours and weekends. When I go on trips, I'll leave my car at work and see these team member's cars parked there on weekends and late at night, I know they're inside working. It's a thankless job. Instead of "thank you", it's usually a "Done yet? Well, here's something else I need for next week."
Sometimes I feel bad for my colleagues in Shared Service. Then I realize we are are all being 'abused' by the system. We need more worker bees and less queen bees, especially if we're NOT going to lower SKU's as they keep saying.
2017, a 1.05 Billion dollar loss and more share holder litigation from Robbins Arroyo LLP, all in one week! RD still employed is difficult to understand. CEO is not understanding Mattel is not responding to his nonsense. It appears that both shareholders and employees have been falsely misled. Hope this is proven in court. Might be the only hope to get the pretenders at the top ousted.
How is RD even still at the company? 3 solid years of losses (going on 4) yet he’s still here and still getting a bonus. If anyone else even caused the company to lose as little as 1 million we’d be out the door. Thanks Mattel! You’re the best.
Again, I’ve seen the lines and 2018 isn’t going to make things better. Mark my words; M-go and RD will be out by 19. And we’ll be paying for their retirement with any future measly profits we were supposed to make in the future. All our past ceo’s, presidents were given parachutes borrowed against future earnings. So we’ve already lost before we’ve even left the gate. You should all thAnk the board for their rich old white men wisdom.
That MBA isn't going to equate to anymore in their severance package if they even give one at this point. If you have an MBA and you're working for mattel you must have cheated to get that degree because only a dummy or a fraud would work there at this point.
Lets face it. Hiring someone with an MBA today is a recipe for failure. It seems for the past 20 years MBA programs only turn out people who can spew buzzwords and not much else. Their only ability to strategize seems to be how to climb to the next rung of the corporate ladder. Brown nosing, passing blame, buzzword nonsense, useless powerpoints, short term faked results, no real abilities or critical thinking.
These are the people Upper Management are, and these are the people Upper Management value. Hence, the situation the company is in.
Start with the SVP’s and VP’s . Then the dozens of MBA’s and marketeers that have failed to generate business to meet financial goals. Any executive that has contributed to the worsening of the situation. After losing a billion dollars in 2017 , just doesn’t feel bottom has been reached yet. A billion lost and not bottomed out yet, WOW!!
You could cut EVERYONE in Finance and Legal, and still wouldn't be able to put a dent in the $281 million in losses from the last quarter alone. Cutting overhead has been the scapegoat buzzword from management for the last 8-10 years. Obviously, it is NOT a plan for turnaround. It just kicks the stone further down the road. Wonder why the investment community doesn't see that. Ever since the exit of Bob Eckert, Mattel has been in a steady slide down the mountain.
I can think of at least 10 VP & SVP’s on both coasts that need to go.
That means massive layoffs of MBA’s that are Not generating more business, Finance, and Legal (Lawyers) department. If Mattel losing 1.08 billion as the released financial statement shows , clear them out . So anyone in those areas reading , the lack of leadership, effective business strategy and execution of any decent business plan has now put a target on you too! Look critically at the decision makers that have failed you also... make an example of Mattel’s poorly performing leadership!
It was great to hear one of the analysts, who obviously reads this board, ask MGO if after all the layoffs if there was still enough talent in El Segundo.
Uncomfortable moment.
"Controlling costs" = Mngt using a flamethrower to torch the long-term employees. They keep just a hairs breath of them so that they can look like they are not total discriminatory machine. Mattel's "Work/Life" balance = Work you to death, give you no time off (ask Shared Services), then boot you out the door. Mattel doesn't know how to make toys, they make misery and mgmt laughs at the drones all the way to the bank.
You are right. You obviously listened to the call, and picked up the between-the-lines stuff about controlling costs.