I read about this on a couple of other sites. It's sad to see a company lay off people. According to
this article the layoffs are part of a plan they announced in January and will take from 6-12 months to execute.
That's highly unusual in my experience. They also won't be filing a WARN notice, which is required under most circumstances.
So it looks like the company is not so much in financial trouble as in financial stress due to the "pandemic snapback" which is affecting a lot of companies. As the stimulus money from 2020 and 2021 has run out, many companies have had a rough year in 2023.
Hopefully Hasbro fans will continue to enjoy their favorite brands.