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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.

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Last 10 comments - ( Read All Posts )
LedBlimp 2024-02-13 @ 4:35 pm

Probably down because of all the crappy rise of the beasts merchandise.  The main lines were really lacking content last year as a result.

TECHTRON 2023-12-12 @ 8:20 pm

I agree with everything that you said and I am sure everyone else does as well.

Decepticats 2023-12-12 @ 4:30 pm

There are many factors as to why Hasbro has found themselves on the verge of bankruptcy. First, they spent too much time and resources on older fans and neglecting younger ones. Then, there's the whole entertainment debacle,  whether it's the Disney disaster, or Hasbro entertainment, both have missed the mark, with some estimating only 8-15% of the audience for the films these toys are based off of, are in that 7-12 age range.

It's true, kids attentions are diverted more than ever now, with smart phones and the like, but to blame all of their failings on this one truth, is intellectually dishonest. 

Whether you agree or disagree with its "values," the whole woke thing is extremely unpopular and devisive. Many are referring to it as a "new religion," because it's that dogmatic. And Hasbro has been pushing this agenda hard, which has not gone unnoticed by many toy buyers.

The increased toy prices coupled with dreadful plastic and qc has angered many. Then you have a company that makes most it's money from plastic toys, virtue signaling by discontining the plastic windows and having some tf's open to air while others are completely hidden away inside a box. 

These are just a few of Hasbro's problems. But the fact those at the top of this company where either unaware, or worse, believed any of these things where good ideas, tells me this company is in worse trouble than we know, and, most likely, won't be around much longer.

All of this could have been avoided if the people running Hasbro hadn't been so short-sighted and sanctimonious, instead of just making the toys people wanted. People can exist without toy companies, but toy companies can't exist without people. It seems Hasbro forgot this.

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