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Hasbro lays off nearly 20% of its workers

polygon.com

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Re: Hasbro lays off nearly 20% of its workers

#41

Post by Macha »

namdnay wrote: post #36
Macha wrote: post #19

Earlier quoted context omitted.

It's easy to view it this way when you're a highly paid software worker, but the average worker in a plastic toy or board game factory is unlikely to have much runway so pretty much needs to start searching immediately with news like that. Factory workers also are not going to be getting the kind of severance packages software devs get.

I doubt Hasbro employ any factory workers, they’ll all be working for suppliers in China

They actually did have a very considerable factory in my hometown, but I see that closed in the previous layoff wave earlier this year.

Re: Hasbro lays off nearly 20% of its workers

#42

Post by mulmen »

toomuchtodo wrote: post #31
iisan7 wrote: post #26

Earlier quoted context omitted.

A union wouldn't push to move layoffs to January, they would push to prevent layoffs at all. Which is maybe what you're advocating, but not what the parent post was saying.

If you give me two shitty options, I will propose an option not presented. Perhaps layoffs are inevitable (unsustainable business, for example, no way you can outrun negative cashflow sometimes), in which case very reasonable packages could be provided. There is no obligation today for that action. You overleveraged the business? You're getting fired, shares are going to zero, but the people who work for you aren't g…

I agree with you generally but I’m not sure the share buyback disproves the claim about labor affordability specifically. In fact I’m having a hard time imagining how it does.

Re: Hasbro lays off nearly 20% of its workers

#43

Post by Keyframe »

oflannabhra wrote: post #28

Hasbro is essentially upside down, with huge losses across all their brands being subsidized by enormous growth from their subsidiary Wizards of the Coast. Even with that growth, they are significantly down. There was a big investor push recently (led by Alta Fox) to get Hasbro to spin WotC out into an independent company [0], which failed. The big concern being that forcing growth on those properties (Magic: the Gat…

Eons ago, when I was in TV/movies business, I spoke with a prominent Forgotten Realms book author (if not _the_ author) about a certain book series he wrote that I thought it would make a fantastic TV series (in a world before netflix had their own production) and he nodded in agreement. I said let's make it it happen, let's warm up parties on both ends (I'm on production side, he would be on property side).. basically cold shower was that, hiw he told me, they (writers) were hired to write pieces for Hasbro and Hasbro didn't want to let go of anything (as in control) nor would it do anything on their own.

So much potential, such a large world, and nothing. Blizzard spun up large business around basically 1% of what they're sitting on top off. Toys can be their sideshow. Alas..

Re: Hasbro lays off nearly 20% of its workers

#44

Post by lotsofpulp »

oflannabhra wrote: post #28

Hasbro is essentially upside down, with huge losses across all their brands being subsidized by enormous growth from their subsidiary Wizards of the Coast. Even with that growth, they are significantly down. There was a big investor push recently (led by Alta Fox) to get Hasbro to spin WotC out into an independent company [0], which failed. The big concern being that forcing growth on those properties (Magic: the Gat…

The D&D movie is on Amazon Prime, and is probably the most fun movie I watched this year. I have zero knowledge or interest in D&D.

Re: Hasbro lays off nearly 20% of its workers

#45

Post by no_wizard »

ryandrake wrote: post #35
no_wizard wrote: post #17

Earlier quoted context omitted.

A completely unenforcable concept, but an interesting thought exercise: if executives (and with that, SVP/VPs) were as likely to experience the recieving end of a layoff the same as those below them on the org chart, how would that affect how often they happen in the first place? For instance, if the VPs and SVPs in charge of the toy division were guaranteed to be part of the layoff, do you think the calculus would h…

I mean, of course. A lot of things would happen differently in business if the decision makers shared consequences and downside with the worker bees. Our system unfortunately is set up such that the executive class reaps the majority of the rewards and upside, while the workers primarily shoulder the downside.

This is what makes unions more necessary than ever, in all industries

Re: Hasbro lays off nearly 20% of its workers

#47

Post by overstay8930 »

oflannabhra wrote: post #28

Hasbro is essentially upside down, with huge losses across all their brands being subsidized by enormous growth from their subsidiary Wizards of the Coast. Even with that growth, they are significantly down. There was a big investor push recently (led by Alta Fox) to get Hasbro to spin WotC out into an independent company [0], which failed. The big concern being that forcing growth on those properties (Magic: the Gat…

Hasbro deserves their fate, they sold their IP to the highest bidder and they could have made a killing off of any one of their properties if they actually tried.

Imagine if they made good games, they could have locked down the most lucrative market for a company of its size and type.

Re: Hasbro lays off nearly 20% of its workers

#48

Post by myth_drannon »

maximilianroos wrote: post #12

Getting laid off in December is tough. But it's better than getting laid off in January after coming back to work from holidays, with plans for the year ahead. At least this way, folks can recuperate with their family, and then hit the job market in January. Or do others disagree?

Instead of enjoying the holidays, you will be mentally devastated and worrying about securing an interview. The worst time to be laid off is in December(stuck home in winter) and the best time is May(enjoy the summer).

Re: Hasbro lays off nearly 20% of its workers

#49

Post by mvdtnz »

maximilianroos wrote: post #12

Getting laid off in December is tough. But it's better than getting laid off in January after coming back to work from holidays, with plans for the year ahead. At least this way, folks can recuperate with their family, and then hit the job market in January. Or do others disagree?

I don't think it's necessary to play a game of "who has it worse" now. Just sympathise with the folks under discussion.
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