The Limited Times

Now you can see non-English news...

Monopoly maker Hasbro announces mass layoffs


The Christmas business should save the US game manufacturer Hasbro the year. But nothing came of it. Now the group is facing a drastic cure.

Enlarge image

Hasbo long-seller Monopoly: Far below expectations


The US toy giant Hasbro has announced major job cuts after a weak Christmas quarter.

The number of employees worldwide will be reduced by around 1,000 jobs, said Mattel's rival on Thursday evening (local time).

That would be around 15 percent of the workforce.

The job cuts are to begin in the coming weeks and will significantly reduce costs in the long term.

Hasbro estimates that revenue for the fourth quarter fell 17 percent year-on-year to $1.7 billion.

The Monopoly and Transformers maker's earnings guidance fell far short of Wall Street pundits' expectations.

Investors dropped the stock by 7 percent in after-hours trading.

Hasbro intends to present final quarterly figures on February 16.


Source: spiegel

All business articles on 2023-01-27

You may like

Business 2023-01-27T06:51:29.804Z

Trends 24h

Business 2023-03-25T10:42:12.946Z


© Communities 2019 - Privacy

The information on this site is from external sources that are not under our control.
The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.