Hasbro has laid off 3% of its global workforce in an effort to cut costs amid the ongoing trade war between the US and China. 

These latest cuts will impact approximately 150 positions company-wide, based on the toyco’s annual report last year citing a headcount of 4,985 workers. CEO Chris Cocks warned that job losses were on the table in Hasbro’s Q1 investor call in April as the company worked to adjust to increased costs and reduced profits as a result of US President Donald Trump’s levies against China. 

In that same call, Cocks noted that Hasbro’s core consumer products business is highly vulnerable to the tariffs, with 50% of its products manufactured in Chinese factories. In a bit of good news for the company, Magic: The Gathering maker and Hasbro subsidiary Wizards of the Coast is expected to pay less than US$10 million in duties this year because the bulk of the trading card game’s US supply is produced in North Carolina and Texas.

Hasbro’s last set of layoffs occurred in 2023, when it eliminated 1,900 positions in two batches as part of a global restructuring to streamline corporate costs in response to that year’s declining revenue. 

Cocks claims the toyco is still well-positioned in the current marketplace, and he expects this year’s revenue to be slightly up from last year’s US$4.13-billion result. Hasbro is also aiming to reduce its reliance on China by lowering its total toy and game volume produced in the country to 40% within the next two years.