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Hasbro To Cut 2,200 Jobs

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Hard times for the toy industry continue in the wake of a devasting year for the number one toy giant, Mattel. Now it's Hasbro that is feeling the effects of distress is toyland.

Hasbro Inc., maker of Furby, Star Wars and Pokemon toys, on Tuesday said it would slash 2,200 jobs, or 19 percent of its work force, and consolidate manufacturing, product lines and sourcing activities in a sweeping restructuring.

The No. 2 U.S. toy maker said it would close toy manufacturing plants in Tijuana, Mexico, and Ashford, England, accounting for 1,850 of the job cuts. Production from those facilities will be moved to other Hasbro facilities and to Asia.

[Updated 12-07-99]

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