Hasbro to cut 15 percent of workforce, about 1,000 jobs ...Middle East

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Hasbro to cut 15 percent of workforce, about 1,000 jobs
source : The Hill ( Middle East ) () 25
Toy and gaming giant Hasbro will cut 15 percent of its global workforce in an effort to cut costs and shake up its business model. The company announced the layoffs after underperforming in the fourth quarter and reporting a 9 percent decline in year-over-year revenue for 2022. Hasbro said its Wizards of the Coast division, which publishes the popular Dungeons & Dragons tabletop game, continued to perform well. But its consumer products division struggled over the holidays amid weak demand for toys and apparel.  "We are focused on implementing transformational changes aimed at substantially reducing costs and increasing our growth rates and profitability,” Hasbro CEO Chris Cocks

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