Hasbro is Slashing it Workforce

According to a report from the Wall Street Journal, toy maker Hasbro is reportedly cutting its workforce by less than 10%.

Toy maker Hasbro is expected to cut jobs as the toy industry continues to deal with the fallout from the bankruptcy of retailer Toys R Us, said the Wall Street Journal.

Hasbro said this week that it would be trimming less than 10 percent of its workforce as part of “meaningful organizational changes” to continue its “ongoing transformation.”

“While some of these changes are difficult, we must ensure we have the right teams in place with the right capabilities to lead the company into the future,” the company said.

Rival Mattel also recently said it would be cutting its workforce as well as shutting down its New York Office.

Disclaimer: We have no position in Hasbro, Inc. (NASDAQ: HAS) and have not been compensated for this article.