Hasbro Cuts Jobs Amid Tariffs and Falling Demand
Toymaker Hasbro is laying off 3 percent of its global staff. That amounts to about 150 employees. The company says it is restructuring to meet long-term goals.
Hasbro is under pressure. Tariffs on Chinese goods have raised costs. Demand for toys remains soft. About half of Hasbro’s U.S. toy supply comes from China.
The company is trying to diversify its supply chain. It is looking for new logistics and manufacturing routes. The trade war and cost hikes have pushed the industry into a tight spot.
CEO Chris Cocks warned in April that tariffs would lead to higher prices and job cuts. He also said profits would suffer.
This is not the first round of cuts. In December 2023, Hasbro said it would eliminate 900 positions. That followed a 15 percent workforce reduction earlier due to slumping sales.
Hasbro has struggled in traditional toys. But digital and licensed games are helping. Its latest quarterly earnings beat estimates thanks to this pivot.
The layoffs are part of a broader multi-year restructuring. The company has not confirmed how many more job cuts could follow.