It wasn’t a great signal when Funko introduced earlier this month its plans to straight up destroy someplace between $30 and $36 million price of its collectible vinyl collectible figurines due to dwindling demand that’s tanked their worth. But Funko’s current resolution to lay off about half of the staffers at subsidiary Mondo paints a transparent image of an organization struggling to safe its monetary footing.
Though Funko solely acquired Mondo — the Austin-based nostalgic memorabilia outfit identified for its small-batch film posters and vinyl information — from Alamo Drafthouse final summer season, The Wrap reviews that “most of” Mondo’s workers, together with co-founders Rob Jones and Mitch Putnam, had been laid off this week. Along with the layoffs, Funko is alleged to be shuttering Mondo’s poster division totally, though io9 reviews that the corporate intends to proceed producing posters “under different leadership” sooner or later.
For the time being, Mondo’s toy and record-producing branches will stay to see one other day, and there are still a handful of posters up on the market on Mondo’s website. The choice is kind of restricted, although, and it greater than looks as if the Mondo folks as soon as knew and beloved is gone.
…. to be continued
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