ALL Series    Corporate

Hasbro Cutting 1,100 Jobs As Toy Sales Continue To Decline

Santa's not bringing the toys like he used to, as everything else from Apps to Phones to Streaming TV are competing for entertainment dollars that used to be spent on games and toys. CNN is reporting that 1,100 Hasbro jobs will be cut in the next 6 months in response to a 20% drop in sales this year. Even with Hasbro focusing more on core brands, they are obviously struggling to see more than meets profits as Hasbro CEO, Chris Cocks, comments on the situation:

We anticipated the first three quarters to be challenging, particularly in toys, where the market is coming off historic, pandemic-driven highs. While we have made some important progress across our organization, the headwinds we saw through the first nine months of the year have continued into Holiday and are likely to persist into 2024.

The decline that is projected to continue into 2024, is a bit surprising in the year of the Hollywood released Transformers: Rise Of The Beasts, that ultimately was stomped by Barbie. Which means the game is still on for Pop Culture, just not alien robot movies. Sorry, Lorenzo! IMO, there is little to worry about as the company has been around 100 years and will be for many more. Hopefully, things will be lifted by the Transformers 40th Anniversary for one of Hasbro's most iconic brands.

Data Center

Transformers Shops

Advertise Here on

Shop Online for Transformers United

Transformers Shopping
Advertise on

This site uses cookies for site configuration, advertising, and analysis. By using this site you accept our policies - Read Full Site Policy OK
Sign Up For The TNI Newsletter And Have The News Delivered To You!

Forums Communities: Toy Fans - Marvel Fans - Transformers Fans

@ToyNewsI Socials: Facebook - Twitter - Instagram

@MarvelousNews Socials: Facebook - Twitter - Instagram

@Tformers Socials: Facebook - Twitter - Instagram

@JediInsider Socials: Facebook - Twitter - Instagram

Entertainment News International (ENI) is the #1 popular culture network for adult fans all around the world.
Get the scoop on all the popular comics, games, movies, toys, and more every day!

Contact and Support

Advertising | Submit News | Contact ENI | Privacy Policy

©Entertainment News International - All images, trademarks, logos, video, brands and images used on this website are registered trademarks of their respective companies and owners. All Rights Reserved. Data has been shared for news reporting purposes only. All content sourced by fans, online websites, and or other fan community sources. Entertainment News International is not responsible for reporting errors, inaccuracies, omissions, and or other liablities related to news shared here. We do our best to keep tabs on infringements. If some of your content was shared by accident. Contact us about any infringements right away - CLICK HERE