Mattel to Lay Off 2,000 Workers After Disastrous Quarter Toy company Mattel plans to cut 25% of its staff and sell some of its factories due to an 11% drop in sales between April and June. Mattel's representatives say the
Toys R Us bankruptcy played a
major role in the sales drop. Sales in China were also down, so the company's profit margin fell from
41% to 30%. Mattel CEO Ynon Kreiz, via CNN