Dungeons & Dragons owner Hasbro has announced they’re laying off over a thousand staff in the coming months amidst slumping sales during this year.
In total, the company is laying off around 1,100 jobs on top of the previously confirmed 800 layoffs from earlier this year. The layoffs all combined will affect one-fifth of its 6,400 employees.
The tabletop giant said the layoffs are critical to help “keep Hasbro healthy”, while describing the decision as a “lever we must pull” and a “last resort.”
“While we’re confident in the future of Hasbro, the current environment demands that we do more, even if these choices are some of the hardest we have to make,” Hasbro CEO Chris Cocks said in an internal memo (via WSJ). “I know this news is especially difficult during the holiday season. There is no sugar-coating how hard this is, particularly for the employees directly affected.”
Cocks added, “The market headwinds we anticipated have proven to be stronger and more persistent than planned. While we’re confident in the future of Hasbro, the current environment demands that we do more.”
Alongside the layoffs, Hasbro’s new direction is to focus on fewer and larger brands, more digital development, and more attention to direct-to-consumer products and – of course – more licensed deals like the very successful Baldur’s Gate III.
Employees that are affected by the layoffs will be notified in the next six months, and Hasbro is planning to leave their Providence, Rhode Island office when the lease ends in early 2024.