Hasbro announced approximately 1,100 additional job reductions across its global operations in December 2023, on top of roughly 800 reductions already taken. Contemporary reporting confirmed that Wizards of the Coast employees were among those affected, but neither the company memo nor the reporting established a Wizards-specific total.
What happened at Hasbro and Wizards of the Coast?
On December 11, 2023, Hasbro CEO Chris Cocks told employees that the company planned approximately 1,100 additional global reductions. The memo said Hasbro had already taken roughly 800 reductions. GeekWire reported the announcement the next day and said Wizards of the Coast employees publicly reported being laid off. Reported affected roles included IT-related positions, an art director, and a Dungeons & Dragons game designer; the report said multiple departments were involved. GeekWire’s December 12, 2023 report
The company’s memo was addressed to all employees and gave a company-wide figure, not a count for Wizards of the Coast. Hasbro declined to provide GeekWire with a detailed Wizards-specific impact. The available figures therefore do not establish how many Wizards employees lost their jobs, and the global total should not be treated as a subsidiary-level estimate. Hasbro’s December 11, 2023 memo filed with the SEC
What did CEO Chris Cocks say in the memo?
Cocks attributed the decision to market conditions and a restructuring effort. He wrote: “The market headwinds we anticipated have proven to be stronger and more persistent than planned.” He cited a downturn from pandemic-driven highs, particularly in toys, and said Hasbro needed to modernize and become leaner. These were the company’s stated reasons, not an independent finding about the causes of the layoffs.
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The memo also said Hasbro had reinvested more than $200 million in the business. Cocks described workforce reductions as a last resort, but said the company considered them necessary to keep Hasbro healthy. Read the SEC-filed employee memo
How were the cuts and notifications supposed to work?
The memo said the reductions would affect some functions more than others. Notification timing would vary by country because local consultation rules differ. Hasbro expected most notices to be delivered over six months, with the remainder over the following year. It also described job-placement support as part of the packages for affected employees.
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Alongside the job reductions, Hasbro outlined organizational changes: standardizing Finance, HR, IT, and Consumer Care processes through a Global Business Enablement project and reducing management layers. The memo also announced a plan to leave Hasbro’s Providence, Rhode Island, office when its lease ended in January 2025 and move those teams to Pawtucket. These details describe plans announced in December 2023; the memo alone does not establish their present status. Hasbro’s memo filed with the SEC
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.How should later Wizards and Magic results be interpreted?
Hasbro later reported strong results for Wizards and Digital Gaming. In its July 21, 2026 second-quarter release, the company reported that the segment’s revenue rose 27% year over year and that Magic: The Gathering generated more than $500 million in quarterly revenue, a first in the franchise’s 30-plus-year history, according to Hasbro. In its May 20, 2026 first-quarter release, Hasbro reported a 26% year-over-year increase for Wizards and Digital Gaming. Hasbro’s Q2 2026 release; Hasbro’s Q1 2026 release
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Those later company-reported results provide business context, not evidence that the 2023 layoffs caused or did not cause subsequent growth. They also do not change what was known at the time: Wizards staff were affected, while a comprehensive Wizards-specific job-loss count was not disclosed.
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