Affected like so many companies by the global coronavirus pandemic, Funko have been forced to lay off 250 members of staff, around a quarter of its global workforce, with no word yet on the location of those cuts.
The company said in a brief regulatory filing late Wednesday it expects “a majority of the workforce reduction” will take place by the end of June, and the rest by the end of the third quarter, meaning September.
Funko CEO Brian Mariotti told shareholders during a virtual annual meeting May 27 that in response to the pandemic, the company initially “closed all of our corporate offices and our 2 flagship retail stores,” and added safety precautions at its distribution centers. It also has “accelerated the expansion of Funko’s e-commerce platform,” he said.
The company said in April it was furloughing a “significant portion” of its employees, and that top management would take a 20% pay cut through the end of June.
According to its year-end filing with the Securities and Exchange Commission, Funko had 744 employees in the United States, with another 252 in Europe and 10 in Asia.
Exploring the galaxy since 1978, Mark wrote his first fan fiction in 1981 and been a presence online since his first webpage Fanta War in 1996. He currently contributes to Star Wars Insider, ILM.com and SkywalkerSound.com, having previously written for StarWars.com, Star Wars Encyclopedia, Build The Millennium Falcon, Starburst Magazine, Geeky Monkey, TV Film Memorabilia and Model and Collectors Mart.
He is a four-time Star Wars Celebration Stage host, the only podcaster to have appeared on every Celebration podcast stage since it began in 2015, the Daily Content Manager of Fantha Tracks and the co-host of Making Tracks, Canon Fodder and Start Your Engines on Fantha Tracks Radio.
- Advertisement -
- Advertisement -
Affected like so many companies by the global coronavirus pandemic, Funko have been forced to lay off 250 members of staff, around a quarter of its global workforce, with no word yet on the location of those cuts.
The company said in a brief regulatory filing late Wednesday it expects “a majority of the workforce reduction” will take place by the end of June, and the rest by the end of the third quarter, meaning September.
Funko CEO Brian Mariotti told shareholders during a virtual annual meeting May 27 that in response to the pandemic, the company initially “closed all of our corporate offices and our 2 flagship retail stores,” and added safety precautions at its distribution centers. It also has “accelerated the expansion of Funko’s e-commerce platform,” he said.
The company said in April it was furloughing a “significant portion” of its employees, and that top management would take a 20% pay cut through the end of June.
According to its year-end filing with the Securities and Exchange Commission, Funko had 744 employees in the United States, with another 252 in Europe and 10 in Asia.
Exploring the galaxy since 1978, Mark wrote his first fan fiction in 1981 and been a presence online since his first webpage Fanta War in 1996. He currently contributes to Star Wars Insider, ILM.com and SkywalkerSound.com, having previously written for StarWars.com, Star Wars Encyclopedia, Build The Millennium Falcon, Starburst Magazine, Geeky Monkey, TV Film Memorabilia and Model and Collectors Mart.
He is a four-time Star Wars Celebration Stage host, the only podcaster to have appeared on every Celebration podcast stage since it began in 2015, the Daily Content Manager of Fantha Tracks and the co-host of Making Tracks, Canon Fodder and Start Your Engines on Fantha Tracks Radio.
When you visit any web site, it may store or retrieve information on your browser, mostly in the form of cookies. Control your personal Cookie Services here.
For performance reasons we use OneSignal as a notification service. This saves a number of cookies in order to apply notifcation services on a per-client basis. These cookies are strictly necessary for OneSignal's notification features. It is essential to the service that these are not turned off.
