Mattel said Wednesday it’s cutting 2,200 jobs, which the toy and iconic Barbie doll maker said represented 22% of its global non-manufacturing workforce.

The timing: This comes amid slumping sales and losses following Toys “R” Us, a key retailer, closing its stores last month after filing for bankruptcy. The company's CFO said the job cuts are part of of a $650-million cost-cutting plan announced last year, and that it will also sell manufacturing sites in Mexico.