Hasbro Laying Off Over 1,000 As CEO Calls Market Headwinds “Stronger And More Persistent Than Planned”
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deadline.comGiant toymaker Hasbro is laying off 1,100 employees, following 800 staff cuts announced earlier this year, as CEO Chris Cocks cited a tough business climate that’s been slow to recover.
That’s about 20% of the company’s global workforce. “The market headwinds we anticipated have proven to be stronger and more persistent than planned.
While we’re confident in the future of Hasbro, the current environment demands that we do more, even if these choices are some of the hardest we have to make,” the chief executive said in an email to staff today.
In August, in a big step towards refocusing its business, the Rhode Island-based company agreed to sell eOne to Lionsgate in a deal worth $500 million.
Read more on deadline.com
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