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Hasbro Cutting 1,100 Jobs As Toy Sales Continue To Decline


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Santa's not bringing the toys like he used to as everything else from Apps to Phones to Streaming TV are competing for entertainment dollars that used to be spent on games and toys. CNN is reporting that 1,100 Hasbro jobs will be cut in the next 6 months in response to a nearly 21% drop in sales this year. - Read the Full News Story

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There are many factors as to why Hasbro has found themselves on the verge of bankruptcy. First, they spent too much time and resources on older fans and neglecting younger ones. Then, there's the whole entertainment debacle,  whether it's the Disney disaster, or Hasbro entertainment, both have missed the mark, with some estimating only 8-15% of the audience for the films these toys are based off of, are in that 7-12 age range.

It's true, kids attentions are diverted more than ever now, with smart phones and the like, but to blame all of their failings on this one truth, is intellectually dishonest. 

Whether you agree or disagree with its "values," the whole woke thing is extremely unpopular and devisive. Many are referring to it as a "new religion," because it's that dogmatic. And Hasbro has been pushing this agenda hard, which has not gone unnoticed by many toy buyers.

The increased toy prices coupled with dreadful plastic and qc has angered many. Then you have a company that makes most it's money from plastic toys, virtue signaling by discontining the plastic windows and having some tf's open to air while others are completely hidden away inside a box. 

These are just a few of Hasbro's problems. But the fact those at the top of this company where either unaware, or worse, believed any of these things where good ideas, tells me this company is in worse trouble than we know, and, most likely, won't be around much longer.

All of this could have been avoided if the people running Hasbro hadn't been so short-sighted and sanctimonious, instead of just making the toys people wanted. People can exist without toy companies, but toy companies can't exist without people. It seems Hasbro forgot this.

 

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  • 2 months later...

We already heard about the layoffs last year, unfortunately Santa wasn't good to Hasbro this holiday season with a 20% drop in sales from the same time in 2022. The report today is even more grim than before, as stated on CNBC:For the last three months of 2023, Hasbro lost $1.06 billion, or $7.64 per share, drastically wider than losses of $128. - Read the Full News Story

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On 12/12/2023 at 8:30 AM, Decepticats said:

There are many factors as to why Hasbro has found themselves on the verge of bankruptcy.

 

They are not on the verge of bankruptcy, nor will they be. Honestly, it is amazing the interest in Pop Culture has lasted this long. It was 2007 that Transformers hit hollywood, and it ran its course within 5 years. We are a decade past that, and can see things have peaked and falling. It is common for this to happen. As much as we all dislike the movies, it is not something Hasbro can just toss aside because people expect there to be movies. Obviously, the huge sucess of Barbie is a sign that Hollywood is not over, just that the some producers are wrong and I don't need to say their names as we all know who's steering the ship. Please stop the GI Joe Cross over and Pre-Transformers One movies, and just get on with what everyone wants in a Generation 1 Characters era done to the Nth degree.

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1 hour ago, LedBlimp said:

Probably down because of all the crappy rise of the beasts merchandise.  The main lines were really lacking content last year as a result.

It is driving people away at this point. 🤢

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As bad as the recent news of Hasbro's continued losses across the board, there are some bright spots, with Hasbro reporting a full year growth of 25% in sales for the Transformers brand. As sated below in the Hasbro Q4 2023 statement:For better or worse, this is good news! Even as a lot of fans have shared their feelings about many issues from costs to distribution to release decisions. - Read the Full News Story

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  • 2 weeks later...

In a new article from the WSJ, Hasbro's Chief Financial Officer Gina Goetter stated that the company will be increasing efforts to cut costs within the company more aggressively in order to help compensate for slumping sales. Revenue at Hasbro fell 15% in 2023 to $5 billion as demand in the toy market softened due to things like rising inflation. - Read the Full News Story

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