Funko Pop Star Wars Celebration Blue Chrome Figures

Funko Pop Star Wars Celebration Blue Chrome Figures
A Chrome Stormtrooper at Star Wars Celebration | Source: Funko

Funko says that “everyone is a fan of something,” but you can be sure that layoffs don’t fall into that category.

As the impact of the COVID-19 pandemic continues to hit businesses — including those in the pop culture community — temporary furloughs due to coronavirus-related closures are becoming permanent layoffs for some.

In its latest Form 8-K filing with the U.S. Securities and Exchange Commission (SEC), Funko revealed that it expects to incur approximately $1 million in charges related to certain termination benefits due to a 25% reduction in its global workforce.


The Pop Insider has confirmed that some layoffs have already taken place, and Funko says that the majority of its workforce reduction will occur by the end of the second quarter with the remainder of cuts to occur by the end of the third quarter.

Sadly, many will be affected by the cancelation of Comic-Con International: San Diego (SDCC) and other major events this summer. Funko may be the prime example as they’ve been tethered to the live event space.

Looking ahead, Funko has a lot of new products in the pipeline including Funko Games and plenty of its signature Pop! Vinyl figures for every fandom.

About the author

James Zahn

James Zahn

James Zahn, AKA The Rock Father, is Editor-in-Chief of The Toy Book, a Senior Editor at The Toy Insider and The Pop Insider, and Editor of The Toy Report, The Toy Book‘s weekly industry newsletter. As a pop culture and toy industry expert, Zahn has appeared as a panelist and guest at events including Comic-Con International: San Diego (SDCC) Wizard World Chicago, and the ASTRA Marketplace & Academy. Zahn has more than 30 years of experience in the entertainment, retail, and publishing industries, and is frequently called upon to offer expert commentary for publications such as Forbes, Marketwatch, the Wall Street Journal, the New York Times, USA Today, Reuters, the Washington Post, and more. James has appeared on History Channel’s Modern Marvels, was interviewed by Larry King and Anderson Cooper, and has been seen on Yahoo! Finance, CNN, CNBC, FOX Business, NBC, ABC, CBS, WGN, The CW, and more. Zahn joined the Adventure Media & Events family in 2016, initially serving as a member of the Parent Advisory Board after penning articles for the Netflix Stream Team, Fandango Family, PBS KIDS, Sprout Parents (now Universal Kids), PopSugar, and Chicago Parent. He eventually joined the company full time as a Senior Editor and moved up the ranks to Deputy Editor and Editor-in-Chief.