Hasbro Announces 1,100 Layoffs, Affecting Wizards of the Coast

Despite record revenue growth, Wizards of the Coast faces job cuts as part of Hasbro's workforce reduction.

Hasbro, the parent company of Wizards of the Coast, announced layoffs of 1,100 staff members, affecting employees across various divisions including Dungeons & Dragons and Magic: The Gathering.
The layoffs come after a previous reduction of 800 jobs earlier in the year, bringing the total job losses to over 1,900, a 20% workforce reduction.
Despite the layoffs, Wizards of the Coast has seen a 40% increase in revenue in Q3 2023, with both Magic: The Gathering and D&D having 'record years'.
Hasbro is also in the process of selling its stake in eOne, which produced tie-in media, and plans to close their Providence, R.I. offices by January 2025.
Employees expect additional layoffs to occur in the next six months, according to sources.