Sunday, November 09, 2008

Mattel Layoffs

Mattel Inc. said Thursday it is cutting about 1,000 positions worldwide because of the economic downturn that is clouding the holiday outlook for toymakers.

Mattel, which makes Barbie, American Girl and Fisher Price products, among others, said the positions amount to three per cent of its worldwide workforce and will reduce its professional and management staff by eight per cent.