Jul 26, 2018
Mattel slashing more than 2,200 jobs after Toys "R" Us demise
Barbie dolls, made by Mattel, displayed on a shelf at a Target store in San Rafael, California. Photo: Justin Sullivan/Getty Images
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.