PAWTUCKET, R.I. — As Hasbro mulls a potential relocation to Boston, executives confirmed Thursday that it would lay off dozens of employees while it looks to streamline its operations.
Andrea Snyder, the company’s director of global corporate communications, said less than 100 employees will be affected by the cuts, and roughly half are based in Rhode Island.
The toymaker released its financial results for the third quarter on Thursday. Revenue declined by 15 percent, but losses were offset by its gaming and licensing businesses, as well as brands like Magic: The Gathering and Dungeons & Dragons, which outperformed compared to the same quarter last year.
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“Outperformance within our gaming and licensing businesses in the third quarter highlights the strength in two of our highest profit areas,” said Hasbro CEO Christian “Chris” P. Cocks during an earnings call with investors on Thursday morning. “Our key initiatives around digital, licensing and reinvigorating our product innovation are bearing fruit.”
This is a developing story and will be updated.
Alexa Gagosz can be reached at alexa.gagosz@globe.com. Follow her @alexagagosz and on Instagram @AlexaGagosz.
Good Morning, Newport! Today is Sunday, June 8, the 159th day of 2025. There are 206 days left in the year.
🚨 You need to know
Get ready for some outdoor music in Newport this summer. Touro Park is kicking off its free concert series today.
The Rhode Island Wind Ensemble, led by Dr. Robert Franzblau, will start things off at 5 p.m. for the Touro Park Summer Concert Series.
The two-hour show will be at the corner of Bellevue Avenue and Pelham Street.
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Our Touro Park Summer Concert Series kicks off on Sunday, June 8, with the Rhode Island Wind Ensemble, under the direction of Dr. Robert Franzblau.
The concert starts at 5:00pm and is free and open to all. Bring a blanket and have a nice picnic dinner while you enjoy a fantastic evening of music in historic Touro Park.
Stop by our tent before or after the concert and see our Mobile Museum Exhibit on music and the Old Stone Mill.
For more information and the full schedule, visit https://www.historicmusicofnewport.org/events/the-rhode-island-wind-ensemble-at-touro-park-ygx8l.
📈 Yesterday’s most-read
The following were yesterday’s most-read What’sUpNewp articles.
Unwanted student ‘treasures’ help stock largest yard sale on Aquidneck Island
On the Market: A look at 44 homes hosting Open Houses this weekend in Newport County (June 7 – 8)
Provence sur Mer serves up elegant French-inspired hospitality
Mah Jongg tournament to raise funds for Newport Mental Health
Morning Notes: Newport Police seek accreditation renewal, public input invited
Newport native graduates from U.S. Naval Academy
Portsmouth High School celebrates Class of 2025 graduation
Tiverton High School celebrates Class of 2025 graduation
Obituary: Alfaretta Massey
Volpe homers and then forced from game when hit by pitch as Yankees beat Red Sox 9-6
📅 What’s Up Today
Weather Forecast
Today: Areas of fog before 9am. Otherwise, mostly cloudy, with a high near 69. North wind 6 to 11 mph becoming east in the afternoon.
Tonight: A slight chance of showers after 1am. Patchy fog between 10pm and 2am. Otherwise, mostly cloudy, with a low around 56. Northeast wind 7 to 10 mph. Chance of precipitation is 20%.
Marine Forecast
Today: NNE wind 5 to 10 kt becoming E in the afternoon. Areas of fog before 9am. Seas 1 ft or less.
Tonight: NE wind 6 to 9 kt. A slight chance of showers after 1am. Patchy fog between 10pm and 2am. Seas 1 ft or less.
The coastal water temperature is 58 degrees.
Sun, Moon & Tide
Sunrise at 5:11 am. Sunset at 8:18 pm. 15 hours & 6 minutes of sun.
High tide at 6:38 am & 6:59 p.m. Low tide at 12:13 am & 11:45 am.
The lunar phase is a Waxing Gibbous.
Things To Do
Live Music & Entertainment
Newport County Public Meetings
No meetings are scheduled.
Cruise Ship Schedule
Next up on the cruise ship schedule is Volendam on June 10.
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More from What’sUpNewp
Patriots overcome weather delays to defeat East Greenwich 15-6 at Brown University
The British Motorcars of New England (BMCNE) made its annual appearance in Bristol this weekend, June 6-7.
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Three others seriously injured as front stairwell of Portuguese American Citizens Club gives way; 75 people were inside at the time of the incident
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The State House of Rhode Island welcomed community leaders and the general public on June 6 for a ceremony and reception aimed at showcasing Portuguese culture and the many contributions Portuguese-Americans have made to the Ocean State as part of the Day of Portugal celebration.
