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The Company Mattel Inc ., Creator of the iconic Barbie doll, announced Wednesday, the closing of its companies in Mexico .
The company based in El Segundo California, announced the decision to publish its second quarter results. In them we can see that Mattel faced a significant decline in sales and profits and consequently announced the reduction of 2,200 employees who account for 22% of their manpower
This radical decision comes after the fall in revenues for the fourth consecutive quarter.
Mattel notes that these measures are caused by the financial results of the second quarter which indicated a 29% increase in losses and a 14% drop in sales. In addition, he added that these figures have to do, in part, with the liquidation of the store Toys R Us .
Bye Bye #Barbie ! ?♀️? #Mattel ends in # México ; will lay off 2,200 employees https://t.co/Zp5X0HK12n pic.twitter.com/gy0raUQ5rT
– Radio Image (@Imagen_Mx) July 26, 2018
Read also Mexico has been rated as the cheapest country to buy gadgets
Mattel CEO, Ynon Kreiz, said, in an open teleconference, that the layoffs will affect the employees of the administrative part and reinforcement positions. In addition, he argued that the decision is to preserve the "creative and commercial capabilities" of the company.
"We see many opportunities, but there has been a big divergence between our financial results in recent years and where the business should be," says Kriez, managing director since April
Mattel lost $ 240.9 million this quarter against losses of $ 56.1 million in the same period of the previous year.
In fact, started this week and is part of a $ 650 million cost reduction plan announced last year. As part of this initiative, Mattel had already planned to sell several manufacturing plants in Mexico
The mills of Mattel in Mexico are located at Escobedo, Nuevo León and Tijuana , Baja. California, in addition to owning about a dozen factories around the world. These job cuts occur a few months after the company announced the closure of its New York office .
In addition, users in different social networks they heard the news and commented
I am very sad because they will close Mattel☹️
– honey (@michcastro_) July 25, 2018 [19659019] There were those who compared the company with Blockbuster in a tweet from the news portal Sin Embargo MX .
matel the new blockbuster
– pillin garcia (@ pillin282) July 26, 2018
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