Thread regarding Mattel Inc. layoffs

Another plant closing.

We just heard about another plant closing, this time in Canada. Does anyone have any info concerning this?

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Post ID: @OP+13amAM8m

14 replies (most recent on top)

CEO and CFO are going end of April...
They will sell Mattel

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Post ID: @lzsl+13amAM8m

Close more plants.

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Post ID: @lnkn+13amAM8m

Recent declines in the toy industry broadly make any big ticket acquisitions highly unlikely in the short-term. Mattel has a very unattractive balance sheet with many billions of debt and a recent history of sales declines across much of it's product line. 😣

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Post ID: @7ivt+13amAM8m

A buyout? Keep on dreaming! No one wants this $hlt show.

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Post ID: @7ybq+13amAM8m

Yes, but someone will buy us. CEO and CFO are going in April.

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Post ID: @6rxi+13amAM8m

This is really sad news for those 580 folks. Why does everything Mattel touch go to sh!t?

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Post ID: @6tdc+13amAM8m

https://www.bnnbloomberg.ca/mega-bloks-to-lay-off-nearly-580-as-it-moves-to-close-montreal-toy-factory-1.1379548

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Post ID: @6jzv+13amAM8m

You sound like an id–t every time you say "Ynon will SALE the company". It's SELL. "Ynon will SELL the company. Ynon will put the company up for SALE".

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Post ID: @2nqa+13amAM8m

And Ynon will sale the company.

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Post ID: @2tto+13amAM8m

If you’ve been paying attention you’d know that Mattel is getting out of the manufacturing business. All the plants are being sold or shut down, just not all at once. Fact.

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Post ID: @2osg+13amAM8m

You think? Thanks for noting that, Captain Obvious!

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Post ID: @iwz+13amAM8m

Maybe I'm being alarmist, but I feel like we're seeing the beginning of a trend of American companies closing down factories in the US and Canada and moving production to places like Asia where they have lower labor costs. Sad.

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Post ID: @fph+13amAM8m

Is that rumour or fact?

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Post ID: @ymh+13amAM8m

Actually we are selling the plant to our Canadian competitor Spinmaster, who is buying the plant to manufacture vehicles for Monster Jam. Recall when we lost that license to them? How ironic.

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Post ID: @uuq+13amAM8m

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