Mattel announced another round of layoffs targeting dozens of employees, the latest in a flurry of cost-cutting moves made by the company in recent years. The company is reducing and restructuring roles across the company to optimize operations and realign the company toward a new brand-centric operating model, a Mattel spokesperson told The Times. "These changes are designed to advance the company's growth objectives and strengthen our competitive position," the Mattel spokesperson said. The company let go of 89 workers in January, part of restructuring the company's global brands team, a Mattel spokesperson told the Los Angeles Business Journal. The stock market dip came after the company announced weak holiday season sales, with Barbie products lagging.

Source: Los Angeles Times March 31, 2026 03:18 UTC