Mattel, the major toymaker known for brands like Barbie and Hot Wheels, is laying off 120 workers. The El Segundo, CA-based company disclosed the planned cuts via a California-mandated WARN notice to state and local officials.

Employers are legally required to alert employees along with state and local officials at least 60 days before a mass layoff in what’s known as a WARN notice. Mattel submitted the notice on Monday and said it expects laid-off workers will start leaving the company on May 19.

Mattel is cutting 120 jobs in May at its El Segundo headquarters, part of a cost-savings initiative that will save the company millions of dollars by 2026. The layoffs, described in March 17 letter to the state’s Employment Development Department,