Hasbro Looking to Move to Boston, According to Report

Hasbro Looking to Move to Boston, According to Report

Hasbro, which announced it was closing its Providence Office late in 2023, is now looking for a new corporate headquarters in Boston, according to a new report.

 

Boston Business Journal said that Hasbro is shopping for 250,000 square feet.

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Ironically, the news was reported just hours after Hasbro CEO Chris Cocks spoke at the 2024 Fall Economic Outlook Luncheon hosted by the Greater Providence Chamber of Commerce. The event was held today at Noon at the Rhode Island Convention Center. 

 

In a regulatory filing, Hasbro announced 1,000 layoffs in December 2023, which were expected to save $100 million in costs a year. 

 

After the Providence office closed, the remaining employees moved back to Pawtucket headquarters. This decision leaves a massive vacancy in the commercial real estate market in downtown Providence.

 

Cocks became Hasbro's Chief Executive Officer in February 2022. Since then, the company has made massive layoffs, and the stock has fallen about 30%.