Mattel to Cut Over 200 Jobs

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Mattel Inc. on Thursday said it expects to cut over 200 positions nearly four months after merging its Mattel and Fisher-Price brands into one division called “Mattel Brands.”


Most of the job cuts will be at the toymaker’s headquarters in El Segundo. The net reduction which will be made through layoffs, eliminations and retirements represents about 1 percent of Mattel’s worldwide workforce, and will be completed in the first quarter, the company said in a regulatory filing.


Expenses of approximately $10 million to $13 million are expected to be recognized in the first quarter due to the reduction.


The new Brands division, announced on Oct. 10, includes the Barbie, Hot Wheels and Fisher-Price mega brands, as well as licensed entertainment properties, including toys for Batman, Dora-the-Explorer and Sesame Street.


Shares of Mattel fell 1 percent to settle at $16.38 on Thursday.

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