1 year 3 months ago
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Hasbro is set to lay off approximately 1,000 people from its global workforce this year in an effort to cut costs, around 15 percent of global full-time employees.
This is to achieve its goal of delivering $250-300m in annualised run-rate cost savings by the end of 2025.
"The elimination of these positions will impact many loyal Hasbro employees, and we do not undertake this process lightly. However, the changes are necessary to return our business to a competitive, industry-leading position and to provide the foundation for future success," said CEO Chris Cocks.