Hasbro's Layoffs Amid Toy Sales Headwinds

Hasbro is undergoing significant layoffs of 1,100 employees due to ongoing challenges in the toy sales market, attributed to market headwinds and consumer frugality. The company's CEO emphasized the need for organization modernization and cost reduction to position Hasbro for growth in the future. Despite revenue declines in its overall business, the Dungeons & Dragons division has seen a 40% year-over-year revenue growth, indicating a successful franchise but a focus on licensing opportunities and scaling entertainment. The company's shares fell by over 4% in after-hours trading following the announcement.