Toy seller Hasbro
has cut 3% of its global workforce in its latest cost-cutting effort amid higher U.S. tariffs on toys from China.
The job cuts amount to about 150 employees. According to its fiscal 2024 annual filing, the company had roughly 4,985 employees globally.
“We are aligning our structure with our long-term goals,” Hasbro spokesperson Abby Hodes told Reuters.
Hasbro sources about half of its toys and games sold in the U.S. from China. The toymaker has been speeding up efforts to diversify sourcing and reduce exposure to China.
