Hasbro, a famous toy manufacturing company, announced the layoff of 20 percent of its employees

On Monday, Hasbro, a major American toy manufacturing company, announced it would lay off 1,110 workers, or about 20 percent of its workforce, largely over the next six months.

Chris Cocks, the company’s CEO, said in a Note that revenue from toy sales, which performed worse than expected in the first nine months of the year, contributed to the decision. In January, Hasbro had already licensed 800 employees, announcing its intention to make further workforce reductions during the year. According to writing ReutersAt the end of 2022, Hasbro employed approximately 6,490 people worldwide: with the job cuts announced Monday, the total layoffs since the start of the year will amount to 1,900, or approximately 29% of its global workforce.

Source: ilpost

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