Hasbro toy saleswoman cut 3% of her global workforce In its latest effort to reduce costs in the highest US tariffs on China toys.
Personnel cuts correspond to about 150 workers. According to its annual fiscal registration of 2024, the company had about 4,985 employees worldwide.
“We are aligning our structure with our long term goals,” Abby Hodes, Hasbro spokesman, told Reuters.
Hasbro gets from China about half of its toys and games sold in the United States. The toy manufacturer has been accelerating its efforts to diversify supply and reduce exposure to China.
Concerns about a global trade warafter the tariffs imposed by US President Donald Trump on business partners, increased pressure on the toy industrywho was already facing difficulties with shy demand.
“Ultimately, rates translate into higher prices for the consumer, possible job losses as we adjust to absorb the increase in costs and reduced profits for our shareholders,” Hasbro CEO, Chris Cocks, said during a call for results in April.
The company also said it was reevaluating the logistics routes and the manufacture on the call.
