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Tough Times at Hasbro

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Dave:
Hasbro laying off 1,100 world building employees

McMetal:
Wow, they’re closing the Rhode Island office too?

I have been laid off two weeks before Christmas before too…IT SUCKS.  :(

Nicklab:
They're closing offices in Providence, RI.  The main Hasbro office is in Pawtucket, RI.

Agreed on the timing - it's never good, especially during the holidays.  I question the leadership at Hasbro.  From what I've read the Hasbro CEO is making $9 million a year.  And it seems like the company has stumbled since former CEO Brian Goldner passed away in 2021 following his illness.

That article cited success over at Mattel, but it's in light of the cultural phenomenon of the Barbie movie this year.  But that could be a blip on the radar in the big picture of the toy industry.

Jeff:
Hmmm... McFarlane Toys and Hasbro sign multi-brand licensing agreement.

Putting this in here because this seems to be happening more and more where Hasbro farms it's own IP out to other people for the figures/toys.  They did it with Funko stuff, and then with Super7 to do TF and GI Joe ReAction figures (and Super 7 will soon be doing 3.75" o-ring figures too).  Now they are doing something here with McFarlane and comics/page puncher stuff rather than try to do their own comic-pack type things.

I wonder if this is all part of the new strategy related to the layoffs.  Farm out the IP to let the other guys design and develop things targeted to kids or collectors and that puts less development time/cost on Hasbro, but they still get a piece of the action from the licensing.  Hasbro can focus on the core business of transforming robots and 6" Classified stuff and let the other guys chase the other lines/sizes.

Diddly:
Hasbro seems like a mess in general these days. Their supply chain management is beyond FUBAR, as you probably already know from the piles of figures showing up at discount stores like Ross and Ollie's. My local retail stores have had empty pegs for Hasbro's lines going on over 2 years now. For example, I have never a single plastic-free packaging Star Wars figure at retail. I only saw the exclusive Indiana Jones 6 inch figures but nothing from the main line. On occasion I see Marvel Legends, but it's rare. I'm still not sure if my local stores are just managed poorly (said stores are still having issues stocking things like milk and toilet paper) or if it's 100% on Hasbro. Either way, this is not great news.

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