Mattel Inc. plans to consolidate its global manufacturing operations in a program that will eliminate about 1,000 jobs, the firm announced Dec. 19. Mattel expects to achieve record sales and earnings in 1994 but will restructure to ``maximize the company's future profitabil-ity,'' the toy giant noted in a news release. It will take a $70 million pretax charge on 1994 earnings because of the restructuring.
The firm's program includes reducing headquarters expense and support functions around the world. It expects the restructuring to save it about $25 million in 1995, and greater amounts in subsequent years.
John Amerman, chairman and chief executive officer of the El Segundo, Calif., firm, said Mattel's acquisitions of Fisher-Price, Kransco and other companies saved costs through integration.
Officials were unavailable to elaborate on which Mattel plants will be affected.
Mattel also announced a five-for-four stock split for share-holders of record Jan. 6. The company will maintain a quarterly dividend of 6 cents per share in 1995.
