(Reuters) -Hasbro has cut 3% of its global workforce in a bid to cut costs amid higher tariffs, the Wall Street Journal reported on Tuesday.
Swirling worries about a global trade war after U.S. President Donald Trump’s tariffs on trading partners have piled pressure on the toy industry that was already struggling with weak demand.
Hasbro did not immediately respond to Reuters request for comment.
The current job cuts are part of the latest round of a multi-year restructuring at the maker of Monopoly board games and Nerf blasters, the Wall Street Journal added.
In December 2023, Hasbro had said it would cut 900 jobs globally, nearly a year after saying it would reduce 15% of its workforce due to weaker sales.
The company had roughly 4,985 employees globally, according to its fiscal 2024 annual filing.
(Reporting by Ananya Mariam Rajesh in Bengaluru; Editing by Sahal Muhammed)
Comments