Hasbro warns of weak holiday quarter results, cuts 15% of its workforce
Publishing timestamp: 2023-01-26 17:51:10
Summary
Hasbro announced it will cut 1000 employee positions, around 15% of its total workforce, and warned of weak holiday quarter results. The Wizards of Coast division, which includes Dungeons and Dragons, will remain a bright spot. Hasbro is expecting a 17% decrease in revenue for the fourth quarter and a 9% decrease for the full year. The company is set to report its fourth-quarter earnings Feb. 16.
Sentiment: NEGATIVE
Tickers: HAS,
Keywords: entertainment, hasbro inc, retail industry, business news, breaking news: business,