Wizards Of The Coast Hit By Hasbro Layoffs

Video Games

Dec 15

Red Dragon from DnD — Image Source: IGN Nordic

Hasbro’s financial struggles are affecting employees at Wizards of the Coast. On December 11, the company announced layoffs of 1,100 staff members, a devastating blow to employees a week before Christmas. Hasbro had previously cut costs by laying off 800 employees back in January, leading to a 20% reduction in the company's workforce after the December layoffs. This move came as a surprise given the record success of Dungeons & Dragons and Magic the Gathering during the year. In particular, Dungeons & Dragons saw an increase in popularity with a cinematic movie. The lockdowns during the pandemic inspired people to seek comradery by playing the role-playing game.

According to Hasbro CEO Chris Cocks, layoffs were a last resort and a “lever we must pull to keep Hasbro healthy.” Cocks called the layoffs a form of “modernizing” that helped Hasbro become “even leaner.” Several workers have already taken to social media to confirm their layoffs. Meanwhile, one of Hasbro’s top rivals, Mattel, found success due to the widespread popularity of the Barbie movie which sparked sales of the dolls. To further reduce costs, Hasbro plans to sell its eOne stake and close its offices in Providence, Rhode Island when the lease expires in January 2025.