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.
- From Star Wars, Luke on Taun Taun, stylized as a Pop! Deluxe from Funko!
- Figure comes in a window display box and is perfect for any Star Wars fan!
- Collect all Star Wars product from Funko!
- Model Number : 46763
- English (Publication Language)