Hasbro Restructures

With profits from games and interactive toys outpacing returns from traditional toys, the world's second largest toy makers has announced restructuring plans aimed at expanding it's technology potential. Hasbro will cut over 2000 jobs as part of the restructuring, most of them in manufacturing as the company shutters factories in Mexico and the United Kingdom. Also closing are facilities in Alameda and Chapel Hill as the company cancel the Falcon series and moves out of the flight simulator market. "Falcon 4 has done reasonably well for us, but it's a niche market," said Habro Interactive PR director Laura Tomasetti. The moves are expected to save the company $16 million next year and $23 million in subsequent years. Hasbro is also launching and $500 million stock repurchasing program.