US: Hasbro announces job cuts

Firm plans to reorganise games business, relocating 70 employees and cutting 75 jobs.
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The new plan for the global games business comes following weak sales for the sector in the key Christmas season.

Hasbro said it would reveal the estimated cost of the changes in July, when it reports second-quarter results, but is confident that the 2011 outlook will remain the same.

The reorganisation is said to be part of the firm's plans to create a Centre of Excellence for Hasbro Games in Rhode Island, which will look at key games brands that it can develop.

There was a weak demand for games, puzzles and pre-school toys in the first quarter and Hasbro also missed sales estimates in the fourth quarter due to weak US demand for games and puzzles.


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