Hasbro Announces 10% Workforce Cut

From the Boston Globe:

Pawtucket, R.I.-based Hasbro, whose brands include Monopoly and Nerf, has about 5,500 employees worldwide. A 10 percent workforce cut would put about 550 people out of work.

While Hasbro said consumer demand was softer than it expected over the holidays, the season was expected to be tough. This was in part because retailers were ordering inventory more cautiously.
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Spokesman Wayne Charness said that the job cuts will all be this year and will occur globally, with no particular business groups targeted.

He said that the facility consolidations could result in some closures but was not specific about which plants would be affected other than to say no closures were planned in Rhode Island or Massachusetts in 2013. Hasbro has offices in 40 countries worldwide.

So did WotC skip their annual Holiday Massacre layoffs just to have layoffs imposed from above?