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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