Neutral Evil Hasbro Laying Off Over 1000 Workers Two Weeks Before Christmas

Update: Nonat1s weighs in on the WOTC layoffs:

UPDATE: MIKE MEARLS WAS FIRED! Along with a bunch of high level D&D people. to quote Tenkar: “They book is done – what do they need an art director for?” Ouch.

Hasbro CEO Chris Cocks announced layoffs for 1,100 workers in a Monday memo to employees, cuts which come in addition to the roughly 800 jobs eliminated earlier this year.

“We anticipated the first three quarters to be challenging, particularly in toys, where the market is coming off historic, pandemic-driven highs,” Cocks said. “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.”

WOTC probably not affected, due to them their being the single most profitable division despite recent issues with sales, products and ham-handed treatment of their customer base. From their Q3 10-Q:

Net Loss: ($169.5M)

Q3 P&L

• Consumer Products: $96.1M on $2,122.5M revenue (4.5% margin)
• WOTC and Digital Gaming: $203.4M on $1094.4M revenue (18.6% margin)
• Entertainment: ($468.5M) on $487.5M revenue (-96% margin)

Entertainment division sank the whole year, losing close to a billion dollars and erasing the profits from the other divisions to the tune of nearly $170M.