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LOS ANGELES--Toy maker Mattel Inc. (MAT: 14.61, -0.37, -2.46%) says it is cutting some 1,000 positions worldwide in response to the economic downturn. The El Segundo-based company says the positions amount to 3% of its worldwide work force and will reduce its professional and management staff by 8 percent.
* Says current economic environment amplified its need to address appropriate future structure of the business
* Says "global economy entered one of its most challenging and difficult periods in the last 100 years"
National City Takes $1.34 Billion Goodwill Write-down