EVERETT — Layoffs at Funko’s distribution warehouses in Everett and Puyallup are to begin this week.
The Everett toymaker said earlier this year it would lay off 258 workers at the two locations starting June 9, according to a notice filed in April with the Washington Employment Security Department.
The collectible toymaker is consolidating distribution operations at a single site in Arizona.
Funko operates warehouses in Everett near Paine Field, at 1202 Shuksan Way and 6305 36th Ave. W.
The company has said its headquarters and flagship store will remain in downtown Everett.
Funko declined to comment on Tuesday, saying the layoffs aren’t “new news.”
In January, Funko leadership told Washington warehouse workers about the relocation plans. The Arizona warehouse opened this spring.
Funko said it’s moving distribution to Buckeye, a suburb of Phoenix, “because of Arizona’s strategic location and strong talent pool,” the company said in a news release. It is leasing a 958,000-square-foot warehouse that it says will bring more than 300 jobs to that area.
“The consolidation of several warehouses to one single facility will better improve our customer experience and maximize growth opportunities as our business scales,” Funko CEO Andrew Perlmutter said when the announcement was made in April.
Funko, based in Everett, is known for pop-culture-inspired vinyl figures, with signature oversized heads and wide eyes.
Funko went public in 2017 on the Nasdaq Global Select Market under the stock symbol FNKO.
In fiscal 2021, company grew revenue by 58% to over $1 billion.
In May, The Chernin Group, a Los Angeles-based private equity firm, acquired a 25% stake in Funko.
Janice Podsada: 425-339-3097; jpodsada@heraldnet.com;
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