Major Layoffs at Hasbro

#WashYourHands #EntertainmentNews2023 #CultureCasino

Hasbro rolls the dice on its employees and they come up short, what does this mean for the company in the future?

Edited by @mrgrantgregory
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TITLE: Major Layoffs at Hasbro

[hamtherd]

This is on top of the D&D scandel with the OGL revision (1.1 and 1.2) and the Magic overproduced cards which is devaluing the collectable cards, and has an effect on sales on that front. Oh, and the new "OneD&D" edition coming out next year, most are calling it "6th Edition" or "D&Done."

Keeps getting better and better, doesn't it?

[meatpopsicle]

So, do not pass Go, do not collect $200.

[FaolchuAonarach]

I deal in collectable toys, and this doesn't surprise me. They hit kind of a boom at the start of the pandemic, with people stuck at home and having money on hand, they relaunched a lot of lines. Transformers, GI Joe, and Star Wars, all rolling hot. But then the pre-orders got pushed out further and further into the future, and then orders were sometimes canceled, and the prices on each wave of figures kept creeping up. This priced out a lot of collectors, and it was about this time they hit the wall where a lot of the figures people were looking to get had been released. So you have a perfect storm of prices being too high for figures that were along the "do i REALLY want that one?" waves, and i started seeing more and more and more shelf warmers. Add to that some quality control issues, (the marvels legends figures have a ridiculously high percentage of figures coming apart as you open them from their package) and their customers just threw up their hands and quit. I know. I was one of them. I belong to several collectors groups, and over the past several months the majority of what is being said is negative. I strongly suspect this is going to get a lot worse before it gets better. On the toy side if nothing else.

[ProfessorHeyTeeEn]

Here's part of the problem: Hasbro and Mattel used to be able to create IPs back in the days and monetize them to high heaven. GI Joe, He-Man, Transformers, My Little Pony all made bank while having little to no overhead in licensing fees, hell, people paid THEM to make cartoons for it. Marvel, DC, Star Wars and all of those were cherries on top to keep the cashflow going. Now, they don't have this. Hell, they don't even create new IPs. LOLsurprise dolls have a better turnover rate in stores then anything Hasbro and Mattel make right now because they have not adapted to the market.

After this, we can also talk about their specialty divisions like WotC and Avalon Hill, who have been producing cheaper and cheaper content while keeping bumping up the price, and so on and so forth. There are many, many reasons why toy manufacturers are failing.

[Darkwintre]

Why not fire one of the two idiots fronting that OGL mess instead?
Probably save more money and improve PR at the same time!

[TimHayes]

They fired 1, 000 employees. I don't think that was everyone at the company and couldn't be! They're probably selling just enough product to survive, but likely just cut their workforce in half to save money!

[BrownGaijin]

Funny how January is the month with the most hiring, and here we have all these layoffs.

[TroyPacelli]

A quick word about "supply chain issues." Yes, the past three years have been incredibly hard across all industries, and anyone working in a any production based business knows this. Hasbro, however, has found ways to make their distribution situation as bad as possible as if they were doing it on purpose, and that goes back to long before the pandemic. They have found ways to ensure that product accumulates in some places and never, ever makes it to others, that vast swatches of people who want their products can't get them, and ignoring recurring and evitable problems as if this was their plan all along. The sheer incompetence and baffling marketing schemes make me wonder how a company can continue with such insane management (i.e. "doing the same thing over and over and expecting different results). All they have have managed to do is ensure that scalpers get rich on Hasbro's artificial scarcity, "limited editions" and exclusives rather than maximizing their own profit. Well, you reap what you sow, Hasbro.

[JWPanimation]

Looking at Hasbro's franchises many of them seem dated even though I loved them as a kid, especially GI Joe. I buy WOTC's D&D content and it's suffering from the same under cooked political axe grinding that is all the rage now in content creation. Honestly after the OGL 1.1 fiasco, I can't see how Hasbro survives, they just don't have the talent or leadership to maintain the properties they own.

[dreamer]

Ohh soo woke toys dosent sell?? Shocking

Perhaps they should sell more monopoly only for women's 🤣🤣