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Hasbro Games Announces Plan to Improve Productivity, Competitiveness of Massachusetts Plant

Miscellaneous: Jay Cochran - 2008.01.09
Hasbro Games, a division of Hasbro, Inc. (NYSE:HAS), announced today a plan designed to improve the productivity and competitiveness of its East Longmeadow, Massachusetts factory. The plan will depend on union agreement to certain work practice changes in order to make the plant competitive going forward.

Approximately 200 jobs, including both manufacturing and support personnel, are being impacted. Affected office employees will be offered competitive severance packages and outplacement services. Hasbro intends to negotiate appropriate benefits for its affected union employees.

“While this was a difficult decision, we are optimistic that the union will work with us to make the changes necessary to allow us to become competitive and hopefully secure the substantial majority of manufacturing jobs based in East Longmeadow,” said David Hargreaves, Executive Vice President, Finance and Global Operations.

“We value the excellent work being done at our U.S. based manufacturing facility, and we are prepared to invest approximately $40 million in the coming years, including $10 million immediately to modernize equipment provided that we are able to make the necessary changes to become more efficient,” Hargreaves concluded.

The majority of Hasbro’s board game manufacturing will still be based in Massachusetts and at the Company’s plant in Waterford, Ireland.

Hasbro is a worldwide leader in children's and family leisure time entertainment products and services, including the design, manufacture and marketing of games and toys ranging from traditional to high-tech. Both internationally and in the U.S., its PLAYSKOOL, TONKA, MILTON BRADLEY, PARKER BROTHERS, TIGER, and WIZARDS OF THE COAST brands and products, provide the highest quality and most recognizable play experiences in the world.

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