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Weak holiday sales dent Hasbro’s earnings

Hasbro’s brands include Mr. Potato Head and Monopoly.
Hasbro’s brands include Mr. Potato Head and Monopoly.
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Toy maker Hasbro said fourth-quarter revenue failed to meet expectations because of weaker-than-expected demand over the holidays. It plans to cut about 10 percent of its workforce and consolidate facilities to reduce expenses. The Pawtucket, R.I.-based company has about 5,500 employees worldwide. A spokesman said the job cuts will all be this year and that no facility closures were planned in Rhode Island or Massachusetts in 2013. It reports full-year results on Feb. 7.