Poor 1st quarter for Hasbro Games; company announces 150 'temporary' layoffs now permanent

The Republican ^

[matt04]

Two days after posting lowered earnings for the first quarter of 2012, Hasbro Games reportedly will not recall approximately 150 union employees who had been out on temporary layoffs. The employees received notification earlier this week that their layoffs would now be considered permanent.

The company, which said the East Longmeadow facility “has been operating very efficiently” with a workforce of about 330 unionized employees. “Hasbro expects this facility will continue to operate at this level of employment, which means that we will not be recalling certain employees who have been out on temporary layoff.”

Hasbro Inc. posted a first-quarter loss on Monday, weighed down by costs related to staff cuts and weak sales of “My Littlest Pet Shop” miniatures and other girl’s toys. Results from the maker of Monopoly and Transformers missed Wall Street estimates, and its shares fell over 5 percent.

According to the quarterly report, revenue also slumped, sliding 3.4 percent to $648.9 million compared to the first quarter a year ago. International markets increased 14 percent from a year ago, but sales in the United States and Canada, however, dove 16 percent to $329 million.

[Boogieman]

“Been years since I played any boardgames...........wonder why......”

Yeah, does anyone even do “game night” anymore? Maybe somewhere in the world where they don’t have cell coverage and broadband :)

The closest I get to playing board games is when I go to a certain bar maybe once a month... they have Trivial Pursuit cards on the bar, and my buddies love to try and stump me. Of course, the set is from 1986 or something, so you’ve got to be careful with the geography questions! (”Nope, you’re wrong... the answer is Yugoslavia”)