Hasbro layoffs, on the record
Every job cut, severance charge and restructuring Hasbro reported in its annual reports, 2023 to 2025, quoted from the filings. Headcount went from approximately 5,502 to approximately 4,520.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2023 | approximately 5,502 | year-end 2023 |
| 10-K for 2024 | approximately 4,985 | year-end 2024 |
| 10-K for 2025 | approximately 4,520 | In 2025 |
Job cuts, severance and restructuring
Our summaryAnnounced intention to eliminate about 1,000 positions from its global workforce under the Operational Excellence Program (Initial Actions).
Word for word“As part of this program, in January 2023, the Company announced the intention to eliminate approximately 1,000 positions from its global workforce, or approximately 15% of global full-time employees (“Initial Actions”).” 10-K for 2023
Our summaryAnnounced additional strategic steps including further headcount reductions under the Operational Excellence Program and outsourcing of certain corporate functions to a third-party provider.
Word for word“In December 2023, following a further review of the Company’s cost structure and organizational design, the Company announced additional strategic steps to position the business for future growth, including additional headcount reductions under the Operational Excellence Program, and a revised organizational structure whereby aspects of certain corporate functions are anticipated to be supported by a third-party outsourcing provider.” 10-K for 2023
Our summaryRecorded Operational Excellence program charges, including severance and other employee charges.
Word for word“During 2023 in association with the Company's Operational Excellence program the Company recorded charges of $69.5 million consisting of consultant and transformation office expenses of $35.3 million and severance and other employee charges of $34.2 million included within Selling, distribution and administration within Corporate and Other.” 10-K for 2023
Our summaryReduced headcount, with lower compensation costs in the Corporate and Other segment reflecting headcount reductions.
Word for word“Improved operating results in 2023 reflects lower administrative expenses, including lower compensation costs associated with headcount reductions, partially offset by Operational Excellence program related consultant and transformation office expenses of $35.3 million, severance and other employee charges of $34.2 million, and charges of $35.1 million associated with the non-core eOne Film and TV business sale process as well as higher marketing and sales costs compared to 2022.” 10-K for 2023
Our summaryIncurred Operational Excellence program severance and other employee charges associated with cost-savings initiatives across the company in 2022.
Word for word“Net severance expense and other employee charges of $79.8 million, or $0.57 per diluted share, associated with cost-savings initiatives across the Company; and ◦ Net charges of $9.4 million, or $0.07 per diluted share, of program related consultant and transformation office expenses.” 10-K for 2023
Our summaryHasbro continued its Operational Excellence program, a multi-year cost-savings and restructuring initiative started in 2022, and reported cumulative cost savings to date.
Word for word“Since this program was initiated in 2022, we have delivered approximately $600 million of gross cost savings and $320 million of net cost savings.” 10-K for 2024
Our summaryHasbro stated that its organizational structure changes have resulted in and will further result in workforce reductions under the Operational Excellence program.
Word for word“The Company's organizational structure changes have resulted and will further result in workforce reductions as well as the reallocation of people and resources.” 10-K for 2024
Our summaryHasbro recorded Operational Excellence restructuring charges, mainly severance, and made severance payments; the 2024 year-end severance accrual was reduced.
Word for word“The liability balance associated with Program related restructuring actions consisted of severance payments recorded within Other accrued liabilities in the Consolidated Balance Sheets as follows: (In millions) 2024 2023 Operational Excellence: Balance at beginning of the year $ 81.2 $ 84.9 Charges 22.2 38.2 Payments ( 56.5 ) ( 41.9 ) Balance at end of the year $ 46.9 $ 81.2.” 10-K for 2024
Our summaryHasbro reported total restructuring charges incurred to date under the Operational Excellence program, with no further charges estimated on approved initiatives.
Word for word“The following table presents the restructuring charges incurred to date under the Program, along with the estimated charges expected to be incurred on approved initiatives under the plan as of December 29, 2024: (In millions) Total Operational Excellence: Charges incurred to date $ 154.5 Estimated charges to be incurred on approved initiatives — Total expected charges on approved initiatives $ 154.5 86 Table of Contents HASBRO, INC. AND SUBSIDIARIES Notes to Consolidated Financial Statements — (Continued) (20) Commitments and Contingencies Contingencies: The Company enters into license agreements with strategic partners, inventors, designers and others for the use of intellectual properties in its products.” 10-K for 2024
Our summaryHasbro runs its ongoing Operational Excellence program, a cost-savings initiative that includes restructuring actions, and says it has delivered almost $800 million of gross cost savings so far.
Word for word“Through 2025, we have delivered almost $800 million of gross cost savings and are well on our path to our previous $1.0 billion commitment.” 10-K for 2025
Our summaryHasbro reported cumulative restructuring charges under the Operational Excellence program through the end of fiscal 2025.
Word for word“Total restructuring charges incurred to date under the Program as of December 28, 2025 equal $ 163.5 million .” 10-K for 2025
| Fiscal year ended | Severance costs | Restructuring charges | Cash paid for restructuring |
|---|---|---|---|
| 2018-12-30 | $89.3 million | — | — |
| 2019-12-29 | $69.2 million | — | $35.5 million |
| 2020-12-27 | $6.9 million | $41 million | $37 million |
| 2021-12-26 | — | — | $20.1 million |
Hasbro filed 3 restructuring notices (Form 8-K, Item 2.05) since 2016. This page shows what the company reported to the SEC, not news reports or state layoff notices.
Read from Hasbro’s annual reports (10-K for 2025, 10-K for 2024, 10-K for 2023) and the financial data it files with the SEC, as of 2026-02-25. Every quotation is word for word from the filing linked beside it; how these pages are built and checked. The full record is in its company data sheet.