Hasbro cuts 1,100 jobs, or 20% of its workforce, prompted by the ongoing malaise in the toy business

Published December 11, 2023 4:58 PM

By ANNE D’INNOCENZIO
AP Retail Writer

NEW YORK (AP) — Toy maker Hasbro is cutting about 1,100 jobs, or 20% of its workforce. The job cuts come as the malaise in the toy business extends through another holiday shopping season. The nearly century-old Rhode Island-based company behind Monopoly, Play-Doh and My Little Pony toys disclosed the layoffs in a memo to employees published in a regulatory filing on Monday. The reductions are on top of 800 job cuts that have been taken so far in 2023 as part of the company’s moves announced last year to save up to $300 million annually by 2025.

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