Barbie was much more than the highest-grossing movie of the year, though raking in $1.4 billion worldwide was certainly impressive. For Mattel, the blockbuster sparked a boom in Barbie toy sales—and helped the toymaker avoid the kind of terrible year that Hasbro and other rivals are having.
This week, Hasbro announced it would cut nearly 20% of its staff, or about 1,100 jobs, with CEO Chris Cocks saying that “the market headwinds we anticipated have proven to be stronger and more persistent than planned.”
