It wasn’t a very good signal when Funko announced earlier this month its plans to straight up destroy someplace between $30 and $36 million value of its collectible vinyl collectible figurines on account of dwindling demand that’s tanked their worth. However Funko’s latest resolution to put off about half of the staffers at subsidiary Mondo paints a transparent image of an organization struggling to safe its monetary footing.
Although Funko solely acquired Mondo — the Austin-based nostalgic memorabilia outfit identified for its small-batch film posters and vinyl data — from Alamo Drafthouse final summer season, The Wrap reports that “most of” Mondo’s employees, together with co-founders Rob Jones and Mitch Putnam, had been laid off this week. Together with the layoffs, Funko is claimed to be shuttering Mondo’s poster division solely, though io9 reports that the corporate intends to proceed producing posters “beneath totally different management” sooner or later.
In the intervening time, Mondo’s toy and record-producing branches will reside to see one other day, and there are nonetheless a handful of posters up on the market on Mondo’s web site. The choice is sort of restricted, although, and it greater than looks like the Mondo individuals as soon as knew and cherished is gone.