Hasbro cutting 170 jobs

EAST LONGMEADOW, Mass. (WWLP) - Toy manufacturer Hasbro is passing out some pink slips, cutting 170 jobs in its operations in the US and Canada. Hasbro's Vice President of Corporate Communications Gary Serby told 22News that three employees at the company's East Longmeadow plant will be losing their jobs.

Serby said most of the laid-off employees worked for the company's sales and marketing department. He said that these layoffs will help improve Hasbro's financial performance, and are necessary for the long term success of the company. He told 22News that all of the laid-off employees will receive competitive severance packages and outplacement services.

 
HASBRO, INC. STATEMENT

Gary Serby, V.P. of Corporate Communications

"Hasbro today announced a global workforce reduction of approximately 170 jobs as the Company continues its transformation into a branded play company. These moves were made to address both the under-performance in the U.S. and Canada segment and the need for different skill sets in the Company's workforce to be better aligned with a quickly evolving business. The majority of the reductions will be in the U.S. and Canada segment, which has new leadership so we can return this business to historical levels of profitability and growth. The decision to eliminate certain positions - even when it is necessary for the long term success of the Company - is always very difficult, because such moves clearly impact people.  All employees affected by these moves today will receive competitive severance packages, including outplacement services.

Despite these difficult decisions, Hasbro's business is strong, and we will continue to invest in our business, with a focus on delivering innovation and profitable growth."