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Toy Soldier Hasbro, the world's second-leading toy manufacturer, began when the Hassenfeld brothers formed a small fabric-remnant company in the Rhode Island mill town of Pawtucket. Fabric remnants transformed into fabric-covered pencil boxes, and before too long, the enterprising brothers started manufacturing toy nurse and doctor sets to fill those boxes. Since then, Hasbro has been responsible for producing childhood classics such as Mr. Potato Head, Lincoln Logs, Play-Doh, Raggedy Ann and Andy, Chutes and Ladders, Candy Land, and Monopoly. In addition, Hasbro grew rich off popular late-1980s toys such as Transformers, G.I. Joe, and the Cabbage Patch Kids. Monopolizing However, Hasbro long ago relinquished the number-one spot in the toy industry to Mattel (home of Barbie and friends), and in recent years the company has been making aggressive moves to regain supremacy. The latest installment in three generations of Hassenfelds to control Hasbro, CEO Alan Hassenfeld has one strategy: to establish dominance in the electronic toy market, an area in which Mattel has been traditionally weak. The CD-ROM version of Monopoly sold well and other CD-ROM releases of board game classics sought to rekindle the interest of baby boomers who thought they had outgrown Candy Land. Hasbro has made additional moves to bolster its electronic sales. In summer 1999, it acquired U.K. software maker Europress, and thus entered the educational software market. The move paralleled Mattel's acquisition of educational software producer The Learning Co. Recently, Hasbro launched Games.com, an online games site. In summer 2000, the company's high-tech chief Tom Dusenberry emphasized Hasbro's focus on the expansion of its digital products, stating that "the grand vision is to create Hasbro Digital Entertainment." Not so Bobalicious anymore Hasbro holds the toy rights to the "Star Wars" prequels - and who wouldn't covet the newest Boba Fett action figure? The answer: not enough people. In December 1999, the company announced layoffs of 2,200 jobs, or about 19 percent of its work force, partly due to weak sales of the Star Wars line. Luke Skywalker, Darth Vader, and their cronies account for around 15 percent of Hasbro's revenue - but according to industry watchdogs, kids today are more interested in high technology gadgets than action figures. The run-away success of the company's Pokemon games and toys, however, successfully counteracted the slumping Star Wars sales in the first quarter of 2000.
Hasbro provides information about career opportunities, including internships, on its job hotline (401-727-5773). The hotline provides addresses for various departments to which applicants can send resumes, cover letters, and salary histories.
It's all fun and games Employees say they love working at Hasbro because "Hasbro is a family company in the process of adapting to the 1990s." The "successful mix" of longtime employees and more "entrepreneurial" hires has created a "boisterous and friendly" corporate atmosphere. Employees praise the benefit package as well as the many programs designed to bring them together during their off hours, such as the "activities club" (known as the Fun Committee - dues: 50 cents per week) and organized participation in local charities. More significantly, Hasbro insiders - especially those in product development and testing - appreciate their "cosmic good fortune." One enamored employee remarks that Hasbro has "fulfilled [his] childhood fantasy" of working with toys all day long.
Human Resources
Kenner; Milton Bradley; Nerf; Parker Brothers Playskool
Sega More Company Profiles For more career information, go to Vault.com ©2000, Vault.com Inc
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