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 '81 and has been a presence online since webpage Fanta War in 1996. He is the EiC and Daily Content Manager of Fantha Tracks and currently contributes to ILM.com, SkywalkerSound.com, Star Wars – Das Offizielle Magazin, Journal of the Whills and Starburst Magazine, having previously contributed to magazines Star Wars Insider, Geeky Monkey, TV Film Memorabilia, Model and Collectors Mart, partworks Build Darth Vader, Star Wars Encyclopedia, and Build The Millennium Falcon, and websites Jedi.net, Jedi News, StarWars.com, Lightsabre.co.uk, and Wirezone.
He is the only podcaster to have appeared on every Celebration podcast stage since it began in 2015 (hosting it four times), and is the co-host of Making Tracks, Canon Fodder and Start Your Engines on Fantha Tracks Radio.
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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 '81 and has been a presence online since webpage Fanta War in 1996. He is the EiC and Daily Content Manager of Fantha Tracks and currently contributes to ILM.com, SkywalkerSound.com, Star Wars – Das Offizielle Magazin, Journal of the Whills and Starburst Magazine, having previously contributed to magazines Star Wars Insider, Geeky Monkey, TV Film Memorabilia, Model and Collectors Mart, partworks Build Darth Vader, Star Wars Encyclopedia, and Build The Millennium Falcon, and websites Jedi.net, Jedi News, StarWars.com, Lightsabre.co.uk, and Wirezone.
He is the only podcaster to have appeared on every Celebration podcast stage since it began in 2015 (hosting it four times), and is the co-host of Making Tracks, Canon Fodder and Start Your Engines on Fantha Tracks Radio.
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