Hasbro Cutting Nearly 20% Of Workforce, Or 1,100 Jobs, As Weak Sales Trends Persist
Portfolio Pulse from Charles Gross
Hasbro, Inc. is laying off nearly 20% of its workforce, amounting to approximately 1,100 jobs, due to persistent weak sales trends. The decision was reported by the Wall Street Journal, which cited an internal company memo.
December 11, 2023 | 9:56 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Hasbro, Inc. is reducing its workforce by 20%, which equates to about 1,100 jobs, in response to continued weak sales. This significant job cut could indicate restructuring efforts to stabilize the company's financials.
The announcement of a workforce reduction of this magnitude typically signals ongoing financial struggles and a negative outlook on current sales trends. This could lead to a decrease in investor confidence and a potential drop in the stock price in the short term. However, if investors believe these cuts will lead to long-term savings and a leaner operation, there could be a more neutral or even positive reaction in the longer term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100