Mattel Inc.

Loot Crate became the nation's fastest-growing start-up, then it laid off over a quarter of its staff

Loot Crate became the nation's fastest-growing start-up, then it laid off over a quarter of its staff

On its ascent to becoming the nation’s fastest-growing start-up, Loot Crate Inc. fostered a workplace in which employees warred with Nerf guns, proudly brandished Captain America socks and chanted the company’s name like a rally cry.

But by last summer, when the Los Angeles firm landed on the cover of Inc. magazine for its stupendous expansion, the enthusiasm had been zapped.

Employees gossiped about layoffs, frustration over managers and a dwindling snack bar inside a cramped, windowless warehouse of an office. Last month, two senior executives came an eyelash away...

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