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. Last Updated: 07/27/2016

Toymaker Cuts Jobs




PROVIDENCE, Rhode Island -- Hasbro Inc. will slash 2,200 jobs, or 19 percent of its work force, and close two plants as the world's No. 2 toymaker moves to expand its offerings of software and electronic toys.


Hasbro will take a pretax charge of $141 million in the fourth quarter to cover costs associated with the job cuts, the plant closings in Tijuana, Mexico, and Ashford, England, and the phasing out of certain underperforming toys.


Much of the manufacturing will be shifted to Asia, where a large number of technology goods are produced. Of the 2,200 jobs that will be cut, about 1,850 are manufacturing positions.


Like many toy companies in recent years, Hasbro has been stepping up its high-tech offerings to make playtime more entertaining and challenging for today's computer-literate kids.