Toymaker Hasbro is preparing to layoff 1,100 of its workers, the company announced Monday.
The planned terminations will slash Hasbro’s total workforce by 20%.
“While we have made some important progress across our organization, the headwinds we saw through the first nine months of the year have continued into Holiday and are likely to persist into 2024,” said Hasbro CEO Chris Cocks.
Hasbro will reportedly begin informing workers about the first layoffs this month while notifying other staffers about the status of their employment across the following six months.
