Hasbro Layoff in Ireland

This is an interesting tidbit from the Providence Journal's online arm, Projo.com.  Listen to what Projo reported in this article….

"Pawtucket toymaker Hasbro Inc. said yesterday that it wanted to cut a third of its work force at a factory in Ireland because of overcapacity.

About 140 jobs would be eliminated at the plant in Waterford, where Hasbro makes board games and toys for sale in Europe and elsewhere.

European Union laws require companies to propose the job cuts and then negotiate with employees over workplace issues.

Those talks are under way, said Wayne Charness, a Hasbro spokesman, adding that there was no timetable for completion.

“Our facility there is too big,” Charness said. “These moves are necessary.”

The company has not indicated whether it will cut jobs at its operations in Pawtucket or in East Longmeadow, Mass. Hasbro, the nation’s number-two toymaker, employs 6,000 people worldwide. Most of its products are made by third-party manufacturers – mostly in Asia.

Hasbro makes board games such as Monopoly, Clue and Scrabble; Star Wars and Transformers action figures; and electronic gadgets such as ChatNow and Zoombox.

The company predicts sales will be good during the critical holiday shopping season. Last month, it reported strong sales in the run-up to the fourth quarter."

Read on in the link above for some financial info that was included in the same article.