Hasbro, one of the world’s best known toy companies, is preparing to lay off dozens of employees as they consider a potential move to Boston.
A company spokesperson says about 100 employees are being let go as part of a restructuring plan announced earlier this week. About half of those layoffs are in Rhode Island, where Hasbro is currently headquartered.
State leaders are trying to keep the company in Pawtucket or at least somewhere in the state.
The Boston Business Journal reported last month that Hasbro is eyeing a move to Boston. They said the company has already toured several locations in the city as it looks for a space to better serve their team and business needs, about 200,000 to 250,000 square feet in all.
“As Hasbro continues to evolve, we’re exploring options for our global headquarters to make sure it is a space that can best serve our employees, partners, and business needs for years to come,” Bertie Thomson, the company’s chief communications officer, said in a statement at the time. “We’re taking our time, evaluating all options that can best support our team’s creativity and innovation, and will share updates on our progress. Regardless of the outcome and location, we remain committed to our history – not leaving it behind, but building on it.”
Hasbro has been located in Rhode Island for over 100 years. It was founded in 1923 by brothers Henry, Hillel and Herman Hassenfeld. The company had said five years ago that it was in the process of evaluating several options for corporate headquarters.
The company’s move to Massachusetts could strengthen business in the state. Hasbro and its subsidiaries earned $5 billion in net revenues last year and employs 5,500 people worldwide. Hundreds of employees work for Hasbro in Rhode Island, though the exact number is not known.
Hasbro isn’t the only toy company pursuing Boston as its next step. Lego is set to move its headquarters to the Back Bay next year.