The fallout from the bankruptcy and closure of Toys R Us continues. [LINK]
Pawtucket-based Hasbro is planning to lay off workers, but in a statement Wednesday it didn’t say how many people will lose their jobs or where the cuts will be made.
The toy company said the layoffs will impact “a single digit percentage” of the company’s global workforce.
University of Rhode Island economics professor Leonard Lardaro told NBC 10 News the company is likely thinking far into the future.
“Those are permanent job losses,” he said. “People who have skills are out in the labor market and although they’re skilled at what they were doing, they might not have the right skills for what’s currently in demand.”
In June, rival toy company Mattel laid off 2,200 workers.
Hasbro and other toy makers have struggled since Toys R Us went out of business.
I must take personal responsibility for this; I have not been in a position to buy the usual number of action figures in a given year that I normally would have in 2018.
Look in discount stores. They’re filled with Star Wars toys that do not sell – frequently from The Force Awakens and Rogue One. That means they’ve been warehousing all these old, unsold toys and dumping them cheap, or all the unsold Toys R’ Us stock that wouldn’t even sell right up until the final day now had to go somewhere. Children don’t like the new Star Wars movies, and they don’t buy the toys related to them. If it’s not a phone/tablet game, they don’t care about it. With Hasbro going bat-guano crazy with the Star Wars license, it was going to damage them eventually. Nobody needs or wants Star Wars themed Hotwheels or those Lightsaber kits that every Toys R’ Us had proverbial dung-loads of. They’re unashamedly whoring out the Star Wars brand, and it’s biting them in the ass. I’m betting there won’t be any Rose Tico figures in the next batch, since every store that sells toys has dozens of them, marked down, collecting dust in their clearance shelves.