Mattel Announces 120 Layoffs at El Segundo Headquarters in Cost-Cutting Effort

The layoffs, set to begin May 19, 2025, are part of a $200 million savings initiative and will affect marketing, design, and IT roles.

Mattel is laying off 120 employees at its El Segundo, California headquarters starting May 19, 2025, as disclosed in a WARN notice to state and local officials.
The layoffs target management positions across marketing, design, and IT departments, including managers, directors, and vice presidents.
This move is part of a broader effort to achieve $200 million in cost savings by 2026, focusing on optimizing operations and strengthening organizational structure.
Mattel is diversifying its manufacturing to reduce reliance on China, aiming for less than 40% of its production to come from the country by 2025.
Despite a slight decline in 2024 net sales, Mattel's financial position has improved, ending the year with $1.4 billion in cash after a $400 million share buyback.