Toy maker Hasbro is expected to cut jobs as the toy industry continues to deal with the fallout from the bankruptcy of retailer Toys R Us, according to the Wall Street Journal.
The company said Thursday that it would be trimming less than 10 percent of its workforce as part of “meaningful organizational changes” to continue its “ongoing transformation.”
USA Today reported the news Thursday.
“While some of these changes are difficult, we must ensure we have the right teams in place with the right capabilities to lead the company into the future,” Hasbro said in a statement.
These job cuts come just months after the company’s rival, Mattel, also said it was trimming its workforce and shuttering its New York Office.
Hasbro is scheduled to report third-quarter earnings before the market open Monday.