Mattel is laying off more than 2,200 workers after Toys ‘R’ Us went bankrupt

(CNN) After a disastrous spring, Mattel said it would cut nearly a quarter of its staff and sell some of its factories.

Mattel blamed the Toys “R” Us bankruptcy for the bulk of its problems. When the toy store mega-chain stopped buying new toys, Mattel lost its most important conduit to customers.