The toy company Hasbro is laying off a large number of its employees, including 1,100 from its workforce. The CEO says the move is necessary to keep the company healthy, as the market conditions the company has faced this year have been challenging. The company blames inflation in the economy for their troubles. The layoffs will cause many families to have a difficult Christmas, and the company’s move to cut employees weeks before the holidays shows the impact of the struggling economy on the lives of ordinary people.
Additionally, the price of basic necessities has increased drastically, adding to the struggles many families will face this holiday season.