Hasbro, Inc. HAS recently announced plans to lay off approximately 1,100 jobs (20% of its workforce) amid the ongoing challenges in the toy industry. Global consumers are contending with elevated inflation, leading to cutbacks in non-essential spending in categories like toys, electronics, home goods and apparel. HAS’ CEO Chris Cocks acknowledges the ongoing challenging market conditions and foresees continued hurdles through the holiday season, potentially extending into 2024.