Mattel slashes more than 2,200 jobs worldwide

A Barbie display.
(Image credit: Justin Sullivan/Getty Images)

With revenue falling for a fourth straight quarter, Mattel announced on Wednesday it is cutting more than 2,200 jobs, about 22 percent of its global non-manufacturing workforce.

The company is dealing with Toys R Us shutting down all of its stores, and CEO Ynon Kreiz said the job cuts started this week, part of a plan to save $650 million. The layoffs primarily targeted employees working in support and back office positions, the Los Angeles Times reports. As of Dec. 31, the company had roughly 28,000 employees.

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Catherine Garcia, The Week US

Catherine Garcia has worked as a senior writer at The Week since 2014. Her writing and reporting have appeared in Entertainment Weekly, The New York Times, Wirecutter, NBC News and "The Book of Jezebel," among others. She's a graduate of the University of Redlands and the Columbia University Graduate School of Journalism.