Hasbro Cuts

Hasbro is cutting revenue forecasts and jobs, and some of the problems may be related to its videogame business. The company plans to shed up to 550 jobs in an effort to offset weaker than expected earnings, closing offices in Cincinnati, Napa, and San Francisco. Hasbro is citing a number of factors for its poor performance, including soft demand for Star Wars and Pokemon toys. Hasbro is also identifying poor results in the interactive entertainment market and with its Games.com online gaming portal, and is considering alternative strategies for its interactive businesses.