Layoff News 2025: Why Is This Famous Toy Maker Cutting 150 Jobs?

Hasbro Inc., a leading games, IP, and toy company, has reduced around 3% of its global workforce, laying off roughly 150 employees, Reuters reported. The move is part of a broader cost-cutting measure by the American toymaker aimed at navigating ongoing trade pressures and a prolonged slump in toy demand.

The job cuts are the latest in a series of restructuring moves by the maker of Play-Doh and Monopoly products and come at a time when the company is grappling with higher US tariffs on Chinese imports—a key sourcing market for its toy business.

“We are aligning our structure with our long-term goals,” a Hasbro spokesperson told Reuters.

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At present, employs close to 4,985 people globally, as per its latest annual filing. Notably. Around 50% of its US toy and game inventory is sourced from China, prompting the company to accelerate efforts to diversify its manufacturing footprint to reduce dependency on the region.

It was earlier reported that trade tensions, particularly those stemming from US tariffs imposed on Chinese goods, have added to the challenges facing an industry already under strain from muted consumer demand. 

During earnings call in April, Hasbro CEO Chris Cocks had warned that tariffs not only risk raising prices for consumers but could also lead to job cuts and put pressure on margins.

The latest job cuts follow a larger round announced in December 2023, when the company said it would slash 900 jobs. That came nearly a year after an earlier plan to reduce 15% of its workforce, as part of a multi-year restructuring amid falling sales.

According to The Wall Street Journal, which first reported the recent layoffs, these reductions are part of a broader internal overhaul aimed at stabilising operations and reshaping the business for long-term growth. Hasbro did not disclose specific departments affected.