pcdad
Friar Fanatic
Posts: 3,707
|
Hasbro
Dec 11, 2023 21:44:13 GMT -5
via mobile
Post by pcdad on Dec 11, 2023 21:44:13 GMT -5
Tough local news in Providence:
Hasbro to Cut 1,100 Jobs as Weak Toy Sales Persist The announcement that the toymaker was eliminating nearly 17 percent of its work force came during the critical holiday shopping season. … The layoffs, announced during the critical holiday shopping season, follow a reduction of 800 jobs at the company earlier this year; the toymaker said it expected a majority of the latest cuts to take place over the next six months, with the remainder over the next year. … Shares of the company, based in Pawtucket, R.I., fell about 5.7 percent in after-hours trading. The stock, which closed on Monday at $48.89, was down nearly 19 percent over the past year.
Mr. Cocks also said the company would continue to explore its options to “reduce its real estate footprint,” and would close its Providence, R.I., office after its lease ended in January 2025.
|
|
|
Post by Free Weyinmi on Dec 12, 2023 17:13:22 GMT -5
Hard to believe I've been out of there 24 years after a 10.5-year stint. Thought for sure I'd stay thru retirement, but things changed radically in my area while there. But certainly, one of my favorite employers as I look back on it all. 10+ years was enough to collect a small pension, which I've been doing for 19 years, since age 50.
|
|