Toymaker Hasbro laying off 1,000 to cut costs
Toymaker Hasbro is cutting about 1,000 jobs as part of moves announced last year to save up to $300 million annually by 2025
By AP News
Published - Jan 26, 2023, 06:18 PM ET
Last Updated - Jun 23, 2023, 12:38 AM EDT
PAWTUCKET, R.I. (AP) — Toymaker Hasbro (HAS) said Thursday it is cutting about 1,000 jobs as part of moves announced last year to save up to $300 million annually by 2025.
The nearly century-old Rhode Island-based company behind Monopoly, Play-Doh and My Little Pony toys said the layoffs amount to 15% of its global full-time workforce.
Eric Nyman, president and chief operating officer, is also departing the company, Hasbro said in a statement.
