More layoffs at Spin Master

February 21, 2013 by Gary Rusak

On the heels of announcing a global master toy deal with DreamWorks for the Dragons franchise, Toronto, Canada-based toyco Spin Master undertook a worldwide corporate restructuring yesterday that resulted in a round of layoffs.

Rumored to have affected up to 50 people at the company’s Toronto headquarters, Spin Master’s VP of marketing services Harold Chizick (who will soon be leaving the toyco) confirmed that the restructure would “touch all of the company’s global offices.” However, he would not provide specifics on the total number of jobs eliminated or who was let go, citing Spin Master’s position as a privately held company.

While facing increased manufacturing costs in China and other economic pressures last November, Spin Master engaged in a round of layoffs that was rumored to affect as much as 20% of its 1,000-person global workforce.

Tags: layoffs, Spin Master