Toy industry giant Mattel Inc. is laying off employees, including 93 workers at the company's El Segundo, California, headquarters, according to a notice filed with the state Employment Development Department.
Mattel attributed the layoffs to "challenges in the macroeconomic environment," which pushed the company to more quickly embark on plans for cost savings, the company said in its Worker Adjustment and Retraining Notification Act notice. The notice was dated Feb. 21.
A Mattel spokesperson said in a statement that the company was expanding its "cost-savings program" that was discussed during a fourth-quarter earnings call and was "taking further action to optimize our operations and streamline our organizational structure."
