Hasbro Inc., the toy company who recently purchased the entire intellectual property library from Saban Brands – including Power Rangers – may be looking at laying off a number of employees in different offices around the world (totaling a single percentage point of their workforce). Hasbro has two main offices in the United States – in Pawtucket, Rhode Island and also Burbank, California (though we have been told the Burbank office is newer and much smaller in comparison to the Pawtucket location, which serves as the main Hasbro headquarters).
While we do not know how, or if, this will effect anything in regards to the production of Power Rangers, we cannot help but cringe at another blow to the toy industry as a whole. As you may remember – the bankruptcy at Toys’R’Us caused major toy companies like Hasbro and Mattel to lose out on millions and millions of dollars owed to them which they were forced to take as a loss. Part of those losses, and the communication of those losses, have also resulted in a class action lawsuit against Hasbro by some of its investors and shareholders claiming securities fraud. Hasbro has strongly denied the allegations in the class action lawsuit and also claims any “tough decisions coming up” are not in relation to the lawsuit.
Please check out the links below for more information including a brilliant recap by our sister site ToyArk.com.
Layoffs source – Providence Journal
Class action Lawsuit source – PRNewswire
Original story – ToyArk.com