RIP Hasbro...
5,254Hasbro's CFO says that they're cutting costs and part of that cost-cutting will be examining how much they're spending on materials and production. Translation: They're going to make things CHEAPER and probably charge you MORE. And they're already on thin ice with toy collectors and gamers. Speaking of which, CEO Chris Cocks announced they're a GAME company first, and a toy company second. R.I.P. Hasbro...
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Additional Context:
In a strategic move that's stirring the pot among toy collectors and gamers alike, Hasbro is tightening its belt on costs, impacting its global workforce with layoffs. A significant 20% of staff from its film production company, Entertainment One (eOne), are being shown the door as part of a broader initiative to curb expenses following a 9% drop in revenue year-over-year. This restructuring isn't just about downsizing; Hasbro is also looking to offload a majority stake in eOne, eyeing giants like Lionsgate and Legendary as potential buyers. This pivot underscores CEO Chris Cocks' declaration that Hasbro is prioritizing its identity as a game company, perhaps at the expense of its toy legacy, signaling a potentially transformative era for the company.
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