Hasbro Plans to Cut 1,100 Additional Jobs

Bytgreco

December 12, 2023

The Hollywood Reporter posted this story earlier this evening.

In a memo to employees, CEO Chris Cocks said market headwinds “have proven to be stronger and more persistent than planned.”

Hasbro plans to eliminate approximately 1,100 positions amid continued headwinds in the toy business.

In a memo to employees, CEO Chris Cocks said while the toymaker has seen some improvements due to a retooled supply chain and improved inventory, the market headwinds “have proven to be stronger and more persistent than planned.

Today we’re announcing additional headcount reductions as part of our previously communicated strategic transformation, affecting approximately 1,100 colleagues globally in addition to the roughly 800 reductions already taken.

Read the whole story here