Relocates Toy and Board Game Manufacturing Base to Boston by Hasbro
Toy and game giant Hasbro has revealed a series of significant changes, including a move from Rhode Island to Boston's Seaport District and a workforce reduction.
In a bid to drive innovation, attract talent, and accelerate long-term growth, Hasbro has announced its intention to relocate its Rhode Island operations to Boston's thriving business hub. The move is part of the company's Playing to Win strategy, led by CEO Christian Cocks.
By the end of 2026, around 700 employees will transfer to the new location, with the Boston headquarters serving as the primary location for Hasbro's toys, board games, licensing businesses, and most of its corporate services. The West Coast headquarters in Renton, Washington, will continue to be the hub for Hasbro's gaming and digital businesses, including its Magic: The Gathering and Dungeons & Dragons franchises.
Hasbro aims to achieve mid-single-digit revenue growth by 2027 and capture $1 billion in gross cost savings. However, the company's most recent earnings show a 1% year-over-year revenue drop, reaching nearly $981 million, and a net loss of about $854.7 million in Q2, compared to a net income of $138.5 million the year prior.
In an effort to streamline operations, Hasbro has announced layoffs of 3% of its workforce, affecting approximately 150 employees.
Hasbro's decision to relocate is not without strategic consideration. Boston's deep academic partnerships, cultural vibrancy, and the leadership of Hasbro's Seattle team in technology, creativity, and innovation are seen as an unparalleled foundation for the company's growth.
In addition to its primary headquarters in Boston and its West Coast headquarters in Renton, Washington, Hasbro has campuses and manufacturing sites across the U.S. and offices in Hong Kong, London, Mexico City, and Montreal.
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