Hasbro to cut 200 jobs in Mass.

Toy maker Hasbro Inc. today said its Hasbro Games division will cut about 200 jobs at its East Longmeadow factory.

Affected office employees will be offered severance packages and outplacement services. Hasbro said it will negotiate with the union to determine the benefits for the 180 affected union employees.

Additionally, Hasbro said it will invest $10 million to modernize equipment at the plant, as part of a $40 million investment planned over the next few years for new molding machines, high-speed assembly lines, and new printing and dye-cutting equipment.

About 1,350 employees work at the plant, one of two Hasbro Inc. manufacturing facilities. The job cuts represent about 3 percent of the toy company’s worldwide workforce.

Shares of Pawtucket, R.I.-based Hasbro Inc. dropped $1.06, or 4.5 percent, to $22.36 in afternoon trading. They hit a 52-week low of $22.21 earlier in the session.
(AP)