Toy maker Hasbro has seen its sales plummet in the past quarter. The company behind Monopoly, Peppa Pig in My Little Pony therefore let at least a thousand employees leave.
Hasbro achieved a turnover of more than 900 million euros in the first three months of 2023. That is 14 percent less than a year earlier. Below the line, the toy maker suffered a loss of almost 20 million euros. Hasbro expects no improvement over the remainder of 2023.
The company attributes the loss to the end of the corona crisis. During the lockdowns, people actually bought extra toys. The economic tide is also against. Consumers are uncertain and inflation is high in many Western countries. That’s why people cut back on toys.
At least 1,000 Hasbro employees will have to leave, about 15 percent of the total workforce. The company wants to save hundreds of millions a year in this way.
2023-04-27 12:47:14
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