Hasbro Announces Additional Layoffs Amid Revenue Shortfall

Despite the success of its subsidiary Wizards of the Coast, Hasbro is laying off 1,100 employees globally as part of a larger restructuring effort.

Hasbro, the parent company of Wizards of the Coast, is laying off 1,100 employees globally due to a significant revenue shortfall, despite the success of Wizards of the Coast's games such as Baldur’s Gate 3.
These layoffs are in addition to the 900 positions Hasbro announced it would eliminate earlier this year, bringing the total to nearly 2,000.
The layoffs are part of a larger restructuring effort at Hasbro under CEO Chris Cocks, who moved to Hasbro from Wizards in February 2022.
Despite the layoffs, Wizards of the Coast is planning new releases for 2024, including the celebration of Dungeons & Dragons’ 50th anniversary.
Hasbro also plans to reduce its real estate holdings and will exit its Providence, R.I. office space at the end of its lease in January 2025.