fell after the bell Thursday after the company said it would eliminate around 1,000 employees and warned of weak fourth-quarter earnings results on the horizon.
"Despite strong growth in Wizards of the Coast and Digital Gaming, Hasbro Pulse, and our licensing business, our Consumer Products business underperformed in the fourth quarter against the backdrop of a challenging holiday consumer environment," said Chris Cocks, Hasbro chief executive officer.
The layoff of around 15% of its global workforce comes as the company seeks to save between $250 million and $300 million annually by the end of 2025.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Transformers: Rise of the Beasts Cheetor Figure Arrives from HasbroHasbro is back with another Studio Series Voyager figure as Cheetor from Transformers: Rise of the Beasts comes to life
Read more »
Marvel Legends Hyperion and Doctor Spectrum Squadron Supreme 2-Pack Is On The Way From HasbroFollowing Fantastic Four and Spider-Man 2 drops last week, Hasbro has announced the Marvel [...]
Read more »
Transformers: Rise of the Beasts Studio Series Cheetor Figure Is On Sale NowHasbro has launched another Studio Series figure based on the upcoming film Transformers: Rise of [...]
Read more »
BA Stock Price | Boeing Co. Stock Quote (U.S.: NYSE) | MarketWatchBA | Complete Boeing Co. stock news by MarketWatch. View real-time stock prices and stock quotes for a full financial overview.
Read more »
CVX Stock Price | Chevron Corp. Stock Quote (U.S.: NYSE) | MarketWatchCVX | Complete Chevron Corp. stock news by MarketWatch. View real-time stock prices and stock quotes for a full financial overview.
Read more »
INTC Stock Price | Intel Corp. Stock Quote (U.S.: Nasdaq) | MarketWatchINTC | Complete Intel Corp. stock news by MarketWatch. View real-time stock prices and stock quotes for a full financial overview.
Read more »