Jakks makes staff cuts - ToyNews

Jakks makes staff cuts

Ahead of its Q3 results today, firm confirms it has laid off 100 employees.
Author:
Publish date:
5_Pocoyo.jpg

The redundancies have been made from the headquarters in Malibu and an overseas plant in Hong Kong as part of a previously announced restructuring.

The Malibu toy maker had warned that layoffs were coming during its second quarter report in July.

The company reported a loss of more than $406 million in the second quarter of 2009, mostly from one-time charges, compared with a profit of $4.2 million a year earlier.

It blamed the poor economy for slower sales of its Hannah Montana, WWE, Pokemon and Cabbage Patch Kids product lines.

Affected employees were notified by Friday last week, according to some laid off workers.

Company spokeswoman Genna Rosenberg confirmed the redundancies, but was unable to say how many Malibu workers had been affected.

Related

Featured Jobs

Copyrights Group

Marketing Manager

The Copyrights Group is one of the licensing arms within The Vivendi Group. Acquired by Vivendi in 2016 Copyrights manages the licensing for a portfolio of properties to include Paddington Bear. Some of the other companies within the Vivendi Group include Universal Music Group, and their licensing arm Bravado, Gameloft and Studiocanal to name a few.