Left Menu
Development News Edition

Mattel will close Canada factory after shuttering two manufacturing sites in Asia - WSJ

Reuters | New York | Updated: 09-02-2020 20:38 IST | Created: 09-02-2020 20:35 IST
Mattel will close Canada factory after shuttering two manufacturing sites in Asia - WSJ
The maker of Barbie dolls closed its manufacturing sites in China and Indonesia last year and will shut a facility in Canada sometime this year, the newspaper said. Image Credit: Pexels

Mattel Inc will close a factory in Canada after shutting down two plants in Asia, as the toymaker reduces its manufacturing footprint to cut costs, the Wall Street Journal said on Sunday. The maker of Barbie dolls closed its manufacturing sites in China and Indonesia last year and will shut a facility in Canada sometime this year, the newspaper said.

The closure of the Mega Bloks factory in Montreal, Canada would affect about 580 workers, the Journal reported https://on.wsj.com/2UBXYtT, citing a company spokeswoman. The manufacturing overhaul is said to be a part of Chief Executive Officer Ynon Kreiz's plan to turn around and stabilize Mattel, which has struggled in recent years from weak sales, the newspaper added.

Mattel did not immediately respond to Reuters' request for comment. The El Segundo, California-based company is scheduled to report its earnings later in the week.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

Download The Devdiscourse News App for Latest News.


TRENDING

OPINION / BLOG / INTERVIEW

Sanitation post-COVID 19: Tissue paper not in fashion, learn to wash

Tissue paper has failed COVID 19 test. The modern understanding of sanitation is passing through a stage of transformation. Those who used to feel proud of using tissue paper have been compelled to wash frequently their hands with soap. In ...

Globalization post-coronavirus to get a hit, self-sufficiency paradigm to rule

The massive scale of coronavirus outbreak, accompanied by uncertainty and fear, could lead to new behaviors and beliefs in the 21st-century population that is empowered with the internet....

Ayurveda for COVID 19: Professionals owe the responsibility to protect it from quacks and fake news

Indian Ayurveda professionals are lagging behind their foreign counterparts in handling quacks and protecting credentials of the Ayurveda at the time of COVID 19 pandemic. The professionals of Ayurveda cannot abjure the responsibility to co...

Videos

Latest News

FACTBOX-Latest on the spread of the coronavirus around the world

The World Health Organization WHO voiced deep concern on Wednesday about the rapid escalation and global spread of the coronavirus. In the next few days, we will reach 1 million confirmed cases and 50,000 deaths worldwide, WHO Director-Gene...

Man assaulted for 'leaking' info on Tablighi meet attendees

A man was assaulted by a group in Maharashtras Solapur district for allegedly informing a village official about those who attended the Tablighi Jamaat gathering in Delhi, police said on Thursday. The aged man had informed the village grams...

COVID-19 death toll touches 50, total number of positive cases rise to 1,965 in country

The number of COVID-19 cases climbed to 1,965 in the country on Thursday while the death toll rose to 50, according to the Union Health Ministry. The number of active COVID-19 cases stands at 1,764, of which 150 people were either cured or ...

Guatemalan migrant in U.S. custody positive for coronavirus - foreign ministry

A Guatemalan migrant in U.S. custody has been hospitalized with coronavirus in the United States, the Guatemalan foreign ministry said on Wednesday.It was the first case of a Guatemalan in U.S. immigration detention testing positive for the...

Give Feedback