- Hasbro is cutting about 1,110 jobs, its CEO said Monday. That’s on top of 800 earlier this year.
- This year, layoffs have expanded beyond tech, media, and finance with retail companies also cutting.
- See the full list of layoffs so far in 2023.
Layoffs have remained an unfortunate reality of 2023, continuing pace with the cuts made at dozens of companies toward the end of last year.
Most recently: Toy giant Hasbro will cut around 1,100 jobs — or nearly 20% of its workforce — its CEO told employees in a memo Monday, The Wall Street Journal reported. That comes after the maker of Monopoly games, Peppa Pig, Play-Doh, and Dungeons & Dragons already cut 800 jobs earlier this year.
CEO Chris Cocks said toy sales had been disappointing so far this year — and continued to disappoint into the holiday season, the Journal reported, citing the memo.
“The market headwinds we anticipated have proven to be stronger and more persistent than planned,” Cocks wrote in the memo. “While we’re confident in the future of Hasbro, the current environment demands that we do more.”
Meanwhile, dozens of other companies have made significant reductions to staff this year: Tech companies, including Meta and Google, and finance behemoths, like Goldman Sachs, announced big layoffs in the first weeks of 2023 amid worries about the economy.
The downsizing followed significant reductions that companies, including Meta and Twitter, made toward the end of last year.
According to data from Layoffs.fyi, a site tracking layoffs since the start of the pandemic, tech companies slashed more than 257,000 jobs in 2023 alone — compared to during the pandemic, when they cut 80,000 in March to December 2020 and 15,000 in 2021.
Here are notable job cuts so far in 2023:
