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Hasbro cuts 170 jobs, mostly in U.S.
Yahoo Finance ^ | March 6, 2012 | Dhanya Skariachan

Posted on 03/06/2012 4:47:17 PM PST by Hojczyk

Hasbro Inc is cutting about 170 jobs as the second-largest U.S. toy company tries to recover from sluggish sales during the holiday season.

Eighty-two percent, or 140, of the job cuts are in the United States, according to company spokesman Wayne Charness, including "about 55" in Rhode Island where Hasbro is based.

"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," Charness said.

All employees affected will get "competitive" severance packages, including outplacement services, he said.

Hasbro will take some related charges in the first quarter, but they won't be material, he added.

The maker of Nerf foam toys and Monopoly board games suffered from weak post-Thanksgiving demand, especially for its games and puzzles, in the United States and Canada.

Larger rival Mattel also missed sales expectations in the holiday quarter, but still outperformed Hasbro and gained share from Mattel, according to data from NPD, a market research firm.

Hasbro, based in Pawtucket, Rhode Island, has 5,900 employees worldwide, including about 1,400 in that state.

Hasbro shares fell 2.8 percent to close at $34.65 on Nasdaq.

(Excerpt) Read more at finance.yahoo.com ...


TOPICS: Business/Economy
KEYWORDS:

1 posted on 03/06/2012 4:47:18 PM PST by Hojczyk
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To: Hojczyk

I wonder if those 170 people believe the ‘RATS in the state-controlled media when they tell them that Barry’s economy is “BOOMIN!”


2 posted on 03/06/2012 4:51:38 PM PST by FlingWingFlyer (It's time for the DemocRAT voter base to start paying their "fair share" of taxes.)
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To: Hojczyk

What? A non-green, non-GM, non-Solyndra, non-Fisker Motors layoff!?!??! How could that be? If they got any bailout money, I could see it.


3 posted on 03/06/2012 4:52:29 PM PST by SERKIT ("Blazing Saddles" explains it all.......)
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To: Hojczyk

“sluggish sales in the holiday season”??? I thought this economy was turned around and booming to beat hail.


4 posted on 03/06/2012 4:53:33 PM PST by Past Your Eyes (Suffering fools is hard work and there's no end to it.)
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To: Hojczyk

We’re coming up on, what, Spring of Recovery 3, right?


5 posted on 03/06/2012 4:53:58 PM PST by Charles Martel (Endeavor to persevere...)
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To: Hojczyk
http://images.wikia.com/mlp/images/7/73/Derpy_id.png

I Bet this has to do with negative Brony Reaction to the Derpy fisaco. do NOT anger your fan-base, otherwise they will toss you aside. (the companies who bailed out on Rush are learning this too)

6 posted on 03/06/2012 4:54:53 PM PST by KC_Lion (I will NEVER vote for Romney, the GOP will go the way of the Whigs if they nominate him)
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To: Hojczyk
Biggest Loss-Leader....

7 posted on 03/06/2012 4:55:17 PM PST by SERKIT ("Blazing Saddles" explains it all.......)
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To: SERKIT

LOL...at least one of those lost jobs was whoever green-lit that crap.


8 posted on 03/06/2012 4:56:44 PM PST by Future Snake Eater (Don't stop. Keep moving!)
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To: FlingWingFlyer

Bank of America is cutting 30,000 jobs and not ONE WORD about it in the news lately. Only reason I know and did some research is because I got a letter in the mail telling me the branch I do business with is closing along with others in the Pac NW. I asked one of the tellers if they were being transferred to other branches and she said “no, we’re now on the unemployment lines.”


9 posted on 03/06/2012 4:57:34 PM PST by doc maverick
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To: Hojczyk

meanwhile, there are chinese factories employing 300,000 to build smart phones

and china will be adding 125m cars to their roads in the next 5 years... 25m per year. 2m+ per month

people in the US aren’t thinking in the same scale


10 posted on 03/06/2012 5:06:00 PM PST by sten (fighting tyranny never goes out of style)
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To: Hojczyk

Another hit for “Road Island”. The place is bad. Oh, and they can’t drive worth a poop either.


11 posted on 03/06/2012 5:08:12 PM PST by Peter from Rutland
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To: Hojczyk

Damn, I guess they won’t be able to process my liver into large yellow Superballs when I die.

No legacy for me :)


12 posted on 03/06/2012 5:08:51 PM PST by 5Madman2 (There is no such thing as an experienced suicide bomber)
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To: Hojczyk

If they are the ones still making Star War Action figures in Red China, the reason they are declining is that they cost too damned much. Now over $10.00 for a single figure in many cases.

Ridiculous!


13 posted on 03/06/2012 5:11:41 PM PST by MadMax, the Grinning Reaper
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To: FlingWingFlyer

ASSENFELD, ALAN
BRISTOL,RI 02809 HASBRO/CHAIRMAN 9/25/08 $1,000 Merkley, Jeff (D)
HASSENFELD, ALAN
BRISTOL,RI 02809 HASBRO, INC./CHAIRMAN 10/11/07 $750 Langevin, Jim (D)
HASSENFELD, ALAN G
PAWTUCKET,RI 02861 HASBRO, INC./CHAIRMAN & CEO 9/22/08 $5,000 Democratic Senatorial Campaign Cmte (D)
HASSENFELD, ALAN G
BRISTOL,RI 02809 HASBRO INC./CHAIRMAN 9/30/08 $5,000 HILLPAC (D)
HASSENFELD, ALAN G
BRISTOL,RI 02809 HASBRO TOYS INC./CHAIRMAN 6/25/07 $2,500 Democratic Congressional Campaign Cmte (D)
HASSENFELD, ALAN G
PAWTUCKET,RI 02861 HASBRO, INC. 12/11/07 $2,500 Democratic Senatorial Campaign Cmte (D)
HASSENFELD, ALAN G
BRISTOL,RI 02809 HASBRO TOYS INC./CHAIRMAN 10/4/07 $2,500 Democratic Congressional Campaign Cmte (D)
HASSENFELD, ALAN G
BRISTOL,RI 02809 HASBRO INC. 8/28/08 $2,300 Clinton, Hillary (D)
HASSENFELD, ALAN G
BRISTOL,RI 02809 HASBRO INC./CHAIRMAN 9/30/08 $2,300 Clinton, Hillary (D)
Hassenfeld, Alan G
Bristol,RI 02809 Hasbro 9/30/08 $2,300 Obama, Barack (D)
HASSENFELD, ALAN G
BRISTOL,RI 02809 HASBRO, INC./CHAIRMAN 1/23/07 $2,300 Reed, Jack (D)
HASSENFELD, ALAN G
BRISTOL,RI 02809 HASBRO, INC./CHAIRMAN 6/26/07 $2,100 Reed, Jack (D)
HASSENFELD, ALAN G
BRISTOL,RI 02809 HASBRO/CHAIRMAN & CEO 5/17/10 $2,000 Frank, Barney (D)
HASSENFELD, ALAN G
BRISTOL,RI 02809 HASBRO TOYS INC./CHAIRMAN 7/31/07 $2,000 Democratic Congressional Campaign Cmte (D)
HASSENFELD, ALAN G
BRISTOL,RI 02809 HASBRO TOYS INC./CHAIRMAN 7/31/07 $1,000 Democratic Congressional Campaign Cmte (D)
HASSENFELD, ALAN G
BRISTOL,RI 02809 HASBRO/CHAIRMAN 9/26/08 $1,000 Warner, Mark (D)
HASSENFELD, ALAN G
PAWTUCKET,RI 02861 HASBRO, INC./CHAIRMAN & CEO 7/31/07 $1,000 Democratic Senatorial Campaign Cmte (D)
HASSENFELD, ALAN G
BRISTOL,RI 02809 HASBRO, INC/CHAIRMAN 9/25/08 $1,000 Shaheen, Jeanne (D)
HASSENFELD, ALAN G
BRISTOL,RI 02809 HASBRO, INC./CHAIRMAN 9/26/08 $1,000 Hagan, Kay R (D)
HASSENFELD, ALAN G
BRISTOL,RI 02809 HASBRO TOYS INC./CHAIRMAN 7/12/10 $1,000 Democratic Congressional Campaign Cmte (D)
HASSENFELD, ALAN G
BRISTOL,RI 02809 HASBRO, INC./CHAIRMAN 4/13/09 $1,000 Reed, Jack (D)
HASSENFELD, ALAN G
BRISTOL,RI 02809 HASBRO INC./CHAIRMAN 3/22/10 $500 Blumenthal, Richard (D)
HASSENFELD, ALAN G
BRISTOL,RI 02809 HASBRO, INC./CHAIRMAN AND CEO 8/19/10 $500 Gemma, Anthony P (D)
HASSENFELD, ALAN G
BRISTOL,RI 02809 HASBRO TOYS/CHAIRMAN 5/11/07 $500 Levin, Carl (D)
HASSENFELD, ALAN G
BRISTOL,RI 02809 HASBRO, INC./CHAIRMAN 6/10/08 $500 Langevin, Jim (D)
HASSENFELD, ALAN G
BRISTOL,RI 02809 HASBRO, INC./CHAIRMAN 1/23/07 $200 Reed, Jack (D)
HASSENFELD, ALAN G MR
BRISTOL,RI 02809 HASBRO INC./CHAIRMAN 4/22/08 $2,300 McCain, John (R)
HASSENFELD, ALAN G MR
BRISTOL,RI 02809 HASBRO INC. 4/22/08 $2,300 McCain, John (R)
HASSENFELD, ALAN G MR
BRISTOL,RI 02809 HASBRO INC./CHAIRMAN 1/30/07 $2,100 McCain, John (R)
HASSENFELD, ALAN G MR
BRISTOL,RI 02809 HASBRO INC./CHAIRMAN 6/25/07 $1,000 McCain, John (R)
HASSENFELD, ALAN G MR
BRISTOL,RI 02809 HASBRO INC./CHAIRMAN 8/2/07 $800 McCain, John (R)
HASSENFELD, ALAN G MR
BRISTOL,RI 02809 HASBRO INC./CHAIRMAN 8/2/07 $-800 McCain, John (R)
HASSENFELD, ALAN G MR
BRISTOL,RI 02809 HASBRO INC./CHAIRMAN 4/22/08 $-2,300 McCain, John (R)
HASSENFELD, SYLVIA K
PALM BEACH,FL 33480 HASBRO/DIRECTOR 2/25/08 $1,000 Reed, Jack (D)
HASSENTELD, ALAN G
BRISTOL,RI 02809 HASBRO, INC./CHAIRMAN 9/26/08 $1,000 Musgrove, Ronnie (D)


14 posted on 03/06/2012 5:30:53 PM PST by jimbo123
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To: jimbo123

That’s a long list of (d)s you got there.

funny how McCain and his (R) got on that list.


15 posted on 03/06/2012 5:36:23 PM PST by digger48
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To: digger48

McCain has long been a “pet” Republican.


16 posted on 03/06/2012 5:41:08 PM PST by Menehune56 ("Let them hate so long as they fear" Oderint Dum Metuant), Lucius Accius, (170 BC - 86 BC))
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To: Hojczyk

You know things are bad when people aren’t buying toys.


17 posted on 03/06/2012 6:35:47 PM PST by unixfox (Abolish Slavery, Repeal The 16th Amendment!)
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Hasboro is making toys that are going out of fashion. They aren’t adapting. That will get you creamed in the kids marketplace.

Transformers lost out to Skylanders this year.


18 posted on 03/06/2012 8:14:37 PM PST by Leto (Damn shame Sarah didn't run the Presidency was there for the taking)
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