Hasbro Cuts 1,100 Jobs Amidst Sales Slump as Mattel Shines with Barbie

Money MattersSales
Written By Jennifer Joslyn

Hasbro, known for Monopoly and Play-Doh, is cutting 1,100 jobs, approximately 20% of its workforce, due to disappointing sales ahead of the holiday season. This decision comes after an earlier layoff of 800 employees earlier in the year and is seen as a last resort to address ongoing challenges faced in 2023, which are expected to persist into 2024.

In contrast, competitor Mattel has thrived, particularly with the re-launch of its successful Barbie line.

Read more at The Guardian >

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Jennifer Joslyn
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