Hasbro planning layoffs
Pawtucket-based Hasbro is planning to lay off workers, but in a statement Wednesday it didn't say how many people will lose their jobs or where the cuts will be made.
The toy company said the layoffs will impact "a single digit percentage" of the company's global workforce.
Hasbro emailed a statement to NBC 10 News:
As part of Hasbro’s ongoing transformation we continue to make meaningful organizational changes. While some of these changes are difficult, we must ensure we have the right teams in place with the right capabilities to lead the company into the future. We continue to add new capabilities based on our understanding of the consumer and how our retailers are going to market, while evolving the way we organize our business across our Brand Blueprint.
University of Rhode Island economics professor Leonard Lardaro told NBC 10 News the company is likely thinking far into the future.
“It’s so different from where we were in the manufacturing era 20, 30 years ago,” Lardaro said. “People just don’t understand it. Why are they doing this in a good time? You have to prepare for the bad time. It’s all about that.”
Lardaro said jobs could be eliminated and replaced with more efficient positions.
“Those are permanent job losses,” he said. “People who have skills are out in the labor market and although they’re skilled at what they were doing, they might not have the right skills for what’s currently in demand.”
In June, rival toy company Mattel laid off 2,200 workers.
Hasbro and other toy makers have struggled since Toys R Us went out of business.