Hasbro announced that approximately 100 employees will be impacted by a workforce reduction as part of the company’s efforts to streamline operations and speed up its development process by three months. The layoffs will accompany a restructuring of positions and departments within the company.
One of the significant changes involves the commercial integration of Hasbro’s toy division with Wizards of the Coast, the team behind popular games such as Dungeons & Dragons and Magic: The Gathering. This reorganization is intended to boost efficiency and innovation within the company.
In a letter, CEO Chris Cocks stated that these moves are designed to “empower teams to make quicker decisions and deliver innovation faster.” The company is set to provide further details during its quarterly earnings report, scheduled for release on October 24.