Mattel Cuts Jobs, Pivots to Digital for Rebound

0:00It's April 4th. You're listening to Vancouver News today. AI-powered local news. Mattel's slashing dozens of jobs in its latest cost-cutting push, restructuring roles company-wide to sharpen operations under a fresh brand-focused. Model. A spokesperson says this will boost growth in edge-out rivals. This follows 89 cuts back in January on the Global Brands team, with a worn notice file March 23rd to give 60 days heads up. It's all tied to a rough 2025, where net sales dipped 1% to $5.3 billion, shares tanked 25%. In February, and they shed nearly 1 billion in market value after week holiday sales, Barbie star-fated post its 2023 movie hype, dragging toy performance. Fans and workers feel the pinch as the economy squeezes family budgets, hitting playtime purchases hard. Now Mattel's pivoting to digital games and entertainment for bigger profits snapped up full control of its mobile studio, Mattel 163.

1:01$160 million dropped Uno hits on Roblox and Fortnite, and lined up toy deals for Netflix's K-Pop Demon Hunters, plus Masters of. The universe movie this June in Teenage Mutant Ninja Turtles flick next year. Leaders see toys fueling films and films pumping toys in a winning loop, positioning Mattel to rebound strong if these bets pay off.