Categories: Collectibles

Jakks Pacific Lays Off 100 Employees

According to Toy News Online, ahead of its Q3 results today, Jakks Pacific confirms that they has laid off 100 employees.

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

Source: Toynewsmag
YBMW Staff

YBMW WebMonkeys...

Recent Posts

‘Marvel Studios’ Thunderbolts*’ D23 Brazil Special Look

Will audiences flock to a movie where you need to have seen more than five…

2 weeks ago

‘Captain America: Brave New World’ Official Trailer From D23 Brazil

Anthony Mackie and Harrison Ford star in Marvel Studios’ Captain America: Brave New World. Watch…

2 weeks ago

Batman Beyond – Terry 1/6 Scale Figure – Exclusive From Mondo

Terry 1/6 Scale Figure – Exclusive comes complete with a full array of swappable portraits,…

2 weeks ago

‘Star Wars’ Taps Simon Kinberg To Write/ Produce New Trilogy

The real question isn't what will this trilogy be about, it's will this trilogy actually…

2 weeks ago

‘Squid Games’ Season 2 Trailer

Now with 50% more squid!

3 weeks ago