Toy company forced to lay people off because of trump tax [View all]

[Grokenstein]

https://super7.com/blogs/news/a-message-from-brian-flynn

Super7 is a popular "hip" toy company that sells figures from assorted franchises, including hip-hop artists, Peanuts, GI Joe, Godzilla, Sesame Street and so on. Founder Brian Flynn sent this message out to customers:

(bold mine)

As you may have heard, we had to make the difficult decision to let team members go. These are people who were doing the best work in the industry, none of whom deserved to be let go. I want to be clear that this reduction in staff is a direct result of the tariffs applied to our industry. The preceding six months before the tariff announcement had been Super7’s best since the inception of the company nearly 24 years ago. Then the landscape changed overnight.

Make no mistake, the tariff is a tax on American companies and the American consumer. The people who lost their jobs last week were Americans across 16 different states. The 145% tariff effectively shut our business down, bringing new inventory leaving the factory to zero, compounded by massive tariffs on pre-order product already on the water headed to consumers. This week’s change in tariff to 30%, is still a massive increase to this industry that requires significant change to work within.