That's the stock price for Mattel today. It's the holiday season and every other toy company's stock is up. Layoffs will be happening now because when reporting of the 4th quarter comes, the company will need to report drastic cost reductions to honor it's promise to shareholders - and they can't get it all done if they wait until January, and they won't want to do it in February just before Toyfair (if they even attend).
Here's the bottom line: At a continued 3% slump per day, Mattel's stock will be under $10 by January 15th. If that happens there will be a run on the stock and it will have to file for Chapter 11. If that happens, then liquidation of it's brands will ensue at a very speedy rate and then we'll all have to scramble.
What I don't understand is how the Corporate Marketing group can continue to post lies and irrelevancy on Linked In? Why are you posting fairy tale stories about junior employees from various countries spouting about how impactful they are on the business. The aren't impactful. They are just pawns being used by Corporate Communications to attempt a lame and deceitful story to paint a picture that Mattel is stable. These same junior people will be the first to be laid off when then end draws near.
To Corporate marketing - please stop these ridiculous and laughable Linked In posts - you are fooling no one except yourselves, and you are irrelevant to the business. Tell the truth: about how the Tower is nearly vacant, that EA and Madison are shells working off of skeleton crews, about how none of your products are selling and that every employee is afraid that layoffs are just around the corner. The false stories you portray only hurt the company more as it appears you have your head stuck squarely in the sand - and we all cannot afford that type of outward, public display of incompetency. Have some pride - tell the truth - no matter how much it hurts.