BREAKING: Mattel, the iconic toymaker behind Barbie and Hot Wheels, is set to lay off 89 employees as part of a significant restructuring of its global brands team. The layoffs will commence on January 12, 2026, according to a letter from Karen Ancira, Mattel’s executive vice president and chief people officer, filed with the state’s Employment Development Department.
This decision comes amid a broader cost-cutting initiative aimed at achieving $200 million in savings by the end of 2026. Ancira emphasized the company’s deep appreciation for its employees, stating, “We greatly value the contributions of all our employees and do not take any action regarding our workforce lightly.”
The layoffs target the global brands team and follow a recent shift in the company’s organizational structure, which aims to enhance brand management strategy and drive future growth. A spokesperson for Mattel confirmed that this new approach is designed to better leverage resources and capabilities within the company.
This latest wave of layoffs follows a previous round in March, which saw 120 positions eliminated across various roles, including marketing and design. The affected workers in the upcoming layoffs will include those in brand marketing, design, franchise marketing, and senior management.
The restructuring is seen as a response to ongoing challenges, including potential impacts from President Donald Trump’s tariffs on global imports. As Mattel aims to streamline its operations, it is also adapting its leadership to accelerate growth in its entertainment sector, with newly created roles for the global heads of dolls and vehicles.
As the situation continues to develop, the impact on the employees and their families cannot be understated. Layoffs like these not only affect the individuals losing their jobs but also ripple through the local economy and community.
Stay tuned for further updates on this unfolding story as Mattel navigates these challenging changes in the toy industry.
