Hasbro Establishes Worldwide Center of Excellence for Games
Hasbro, Inc. is creating a Center of Excellence for Hasbro Games in Rhode Island. As part of this, it is reorganizing its global games business and moving its games marketing and games development employees from East Longmeadow, MA to Rhode Island.
“Hasbro has the strongest portfolio of games brands in the industry and this is an important move to accelerate our re-imagination of games. However, it is always difficult to make changes that affect our people,” says Brian Goldner, president and chief executive officer, Hasbro, Inc. “We are committed to continuously re-inventing this business and growing it for the long term. This includes maintaining our leadership position in face-to-face board gaming, while also more effectively competing in the broader world of gaming across all platforms.”
The Center of Excellence for Games will build on Hasbro’s strategy of re-imagining, re-inventing and re-igniting its core brands. The group will identify key games brands for new play experiences and development, while focusing its efforts and workforce on initiatives across multiple platforms in both traditional and digital gaming.
Hasbro expects to relocate approximately 70 employees with a reduction in force of approximately 75 by the end of the year. The impacted employees will be offered a severance package, benefits continuation and outplacement services. Hasbro factory and certain corporate service employees will not be affected by this move.
Hasbro will communicate the estimated cost of these actions in July when the company reports second quarter results. However, the company’s guidance for 2011 remains in place as it continues to believe it will grow revenues and earnings per share, including costs associated with these actions.
“Hasbro has the strongest portfolio of games brands in the industry and this is an important move to accelerate our re-imagination of games. However, it is always difficult to make changes that affect our people,” says Brian Goldner, president and chief executive officer, Hasbro, Inc. “We are committed to continuously re-inventing this business and growing it for the long term. This includes maintaining our leadership position in face-to-face board gaming, while also more effectively competing in the broader world of gaming across all platforms.”
The Center of Excellence for Games will build on Hasbro’s strategy of re-imagining, re-inventing and re-igniting its core brands. The group will identify key games brands for new play experiences and development, while focusing its efforts and workforce on initiatives across multiple platforms in both traditional and digital gaming.
Hasbro expects to relocate approximately 70 employees with a reduction in force of approximately 75 by the end of the year. The impacted employees will be offered a severance package, benefits continuation and outplacement services. Hasbro factory and certain corporate service employees will not be affected by this move.
Hasbro will communicate the estimated cost of these actions in July when the company reports second quarter results. However, the company’s guidance for 2011 remains in place as it continues to believe it will grow revenues and earnings per share, including costs associated with these actions.