Hasbro lays off nearly 20% of its workers
polygon.com
Hasbro lays off nearly 20% of its workers
1–10 of 164 posts
Re: Hasbro lays off nearly 20% of its workers
#2My heart goes out to those affected. Thats very rough.
I know this isn't directly related to the article at hand or anything either, but I feel like I'm seeing a real uptick in November / December layoffs. Is it just me or was it really not a thing companies did with such frequency around the holidays?
I feel like its as much a shedding of costs as it is a flex of big business trying to show strength because they all hate any inch of worker gains in the past 3 years that were made.
In other news: It appears that Hasbro is shifting to become a trading card and video game company, per the article:
>Meanwhile, Hasbro subsidiary Wizards of the Coast, which publishes both Dungeons & Dragons and Magic: The Gathering, is experiencing all-time highs for both revenue earned and the number of players engaged in those brands
>One area of investment for Hasbro appears to be the video game sector. Its latest project, Exodus, made a big splash last week at The Game Awards.
Seems like they're trying to gear up those divisions while winding down their toy division at least somewhat. Its unclear if their stragetic growth with WOTC will also include investments in table top games there or if they will be primarily focused on the core money makers around Magic: The Gathering.
If they can hit big in video games that will certainly bolster revenue though. We shall see if Hasbro is about to be an unexpected giant entrant into that industry
Re: Hasbro lays off nearly 20% of its workers
#3My heart goes out to those affected. Thats very rough. I know this isn't directly related to the article at hand or anything either, but I feel like I'm seeing a real uptick in November / December layoffs. Is it just me or was it really not a thing companies did with such frequency around the holidays? I feel like its as much a shedding of costs as it is a flex of big business trying to show strength because they all…
Perhaps it's a case of improved forecasting/data methods. Hasbro knows already this holiday season will be disastrous for them apparently, and previously companies that needed the holiday season to make their numbers had to wait until after it ended to really make decisions.
Re: Hasbro lays off nearly 20% of its workers
#4My heart goes out to those affected. Thats very rough. I know this isn't directly related to the article at hand or anything either, but I feel like I'm seeing a real uptick in November / December layoffs. Is it just me or was it really not a thing companies did with such frequency around the holidays? I feel like its as much a shedding of costs as it is a flex of big business trying to show strength because they all…
Layoffs usually happen around the financial year-end so holiday layoffs are par for the course.
Just noticeable because we're in a downturn, so more layoffs
Re: Hasbro lays off nearly 20% of its workers
#5My heart goes out to those affected. Thats very rough. I know this isn't directly related to the article at hand or anything either, but I feel like I'm seeing a real uptick in November / December layoffs. Is it just me or was it really not a thing companies did with such frequency around the holidays? I feel like its as much a shedding of costs as it is a flex of big business trying to show strength because they all…
I wonder if it's companies trying to inflate their year-end numbers to appease shareholders. I agree that it feels like more layoffs this month than I expected, but none of them are necessarily due to 'market conditions' per se, like the layoffs that happened at the end of last year and earlier this year.
Spotify and Hasbro seem like they just made bad investments and focused on the wrong areas for their business and now they (or rather their employees) are paying for it. With Hasbro specifically laying people off right now, I bet it's a way to cut down the numbers of payroll ahead of the Christmas sales rush, which I think probably inflates their overall profit margin.
Re: Hasbro lays off nearly 20% of its workers
#6My former employer does a layoff pretty reliably in early December every year. The optics are always poor even if their rationale is sound.
Re: Hasbro lays off nearly 20% of its workers
#7My heart goes out to those affected. Thats very rough. I know this isn't directly related to the article at hand or anything either, but I feel like I'm seeing a real uptick in November / December layoffs. Is it just me or was it really not a thing companies did with such frequency around the holidays? I feel like its as much a shedding of costs as it is a flex of big business trying to show strength because they all…
Perhaps it's a case of improved forecasting/data methods. Hasbro knows already this holiday season will be disastrous for them apparently, and previously companies that needed the holiday season to make their numbers had to wait until after it ended to really make decisions.
They have known for a couple of months Christmas toy orders from retailers are done months in advance.
Re: Hasbro lays off nearly 20% of its workers
#8My heart goes out to those affected. Thats very rough. I know this isn't directly related to the article at hand or anything either, but I feel like I'm seeing a real uptick in November / December layoffs. Is it just me or was it really not a thing companies did with such frequency around the holidays? I feel like its as much a shedding of costs as it is a flex of big business trying to show strength because they all…
I wonder if it's companies trying to inflate their year-end numbers to appease shareholders. I agree that it feels like more layoffs this month than I expected, but none of them are necessarily due to 'market conditions' per se, like the layoffs that happened at the end of last year and earlier this year. Spotify and Hasbro seem like they just made bad investments and focused on the wrong areas for their business and…
If a company provides a severance package, then a Dec layoff is almost certainly too late to have any impact on the bottom line.
Re: Hasbro lays off nearly 20% of its workers
#9My heart goes out to those affected. Thats very rough. I know this isn't directly related to the article at hand or anything either, but I feel like I'm seeing a real uptick in November / December layoffs. Is it just me or was it really not a thing companies did with such frequency around the holidays? I feel like its as much a shedding of costs as it is a flex of big business trying to show strength because they all…
I am still taken aback when they do these holiday layoffs. My employer (Nextdoor) cut 25% of the company in November, and it's hard not to see the timing as a particularly brutal power play.
Re: Hasbro lays off nearly 20% of its workers
#10My heart goes out to those affected. Thats very rough. I know this isn't directly related to the article at hand or anything either, but I feel like I'm seeing a real uptick in November / December layoffs. Is it just me or was it really not a thing companies did with such frequency around the holidays? I feel like its as much a shedding of costs as it is a flex of big business trying to show strength because they all…
A colleague that used to work in the aviation industry told me that they always had layoffs on the 23:rd or 24:th.
I believe it had something to do with the yearly reporting and the people doing the reporting being on holy day between Christmas and new year.