Hasbro to axe 1,100 jobs as slowdown in toy sales continues ...Middle East

American toymaker Hasbro has announced it is axing around 1,100 jobs, or 20% of its workforce, as a slowdown in sales extends into another major shopping season. The company behind Monopoly, Play-Doh and My Little Pony disclosed the cuts in a memo to employees published in a regulatory filing. The news was first reported in the Wall Street Journal. Hasbro, which is nearly 100 years old and based in Rhode Island, said the job cuts are on top of 800 already made in 2023 as part of moves announced last year to save up to 300 million US dollars (£239 million) annually by 2025. At the end of 2022, the company said it had 6,490 employees. Like many toy companies, Hasbro is struggling with a slo

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Last updated : 12 Dec 2023 clock 01:17 PM

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Hasbro to axe 1,100 jobs as slowdown in toy sales continues ...Middle East

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