Latest news with #SpinMaster
Globe and Mail
3 hours ago
- Business
- Globe and Mail
Toronto-based toy maker Spin Master cuts jobs as it weathers tariff impacts
Toy maker Spin Master Corp. TOY-T says it has cut jobs across the company as it tries to weather the impact of global tariffs on its business. In an e-mailed statement, spokeswoman Tammy Smitham did not say how many employees were affected. She says the layoffs were one part of a multi-pronged plan to deal with the effect of tariffs, which also includes diversifying its supply chains and cutting costs. Spin Master said last month that U.S. tariffs on countries where it produces toys, especially China, have made forecasts so challenging that it withdrew its guidance for the remainder of the year. The company behind the Hatchimals, Gabby's Dollhouse and Monster Jam brands has said it aims to drastically reduce its reliance on China for production over the next two years. In February, Spin Master said it had decided to wind down a games studio in Sweden as the cost to acquire new users weighed too heavily on revenue.
Toronto Sun
4 hours ago
- Business
- Toronto Sun
Toy maker Spin Master cuts jobs as it contends with tariff uncertainty
Published Jun 03, 2025 • 1 minute read Spin Master signage is pictured in Toronto on Friday, Sept. 8, 2023. Photo by Andrew Lahodynskyj / THE CANADIAN PRESS Toy maker Spin Master Corp. says it has cut jobs across the company as it tries to weather the impact of global tariffs on its business. This advertisement has not loaded yet, but your article continues below. THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. SUBSCRIBE TO UNLOCK MORE ARTICLES Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. REGISTER / SIGN IN TO UNLOCK MORE ARTICLES Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account. Share your thoughts and join the conversation in the comments. Enjoy additional articles per month. Get email updates from your favourite authors. THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK. Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account Share your thoughts and join the conversation in the comments Enjoy additional articles per month Get email updates from your favourite authors Don't have an account? Create Account In an emailed statement, spokeswoman Tammy Smitham did not say how many employees were affected. She says the layoffs were one part of a multi-pronged plan to deal with the effect of tariffs, which also includes diversifying its supply chains and cutting costs. Spin Master said last month that U.S. tariffs on countries where it produces toys, especially China, have made forecasts so challenging that it withdrew its guidance for the remainder of the year. The company behind the Hatchimals, Gabby's Dollhouse and Monster Jam brands has said it aims to drastically reduce its reliance on China for production over the next two years. In February, Spin Master said it had decided to wind down a games studio in Sweden as the cost to acquire new users weighed too heavily on revenue. Other Sports Toronto & GTA Ontario Toronto & GTA Canada
Hamilton Spectator
4 hours ago
- Business
- Hamilton Spectator
Toy maker Spin Master cuts jobs as it contends with tariff uncertainty
TORONTO - Toy maker Spin Master Corp. says it has cut jobs across the company as it tries to weather the impact of global tariffs on its business. In an emailed statement, spokeswoman Tammy Smitham did not say how many employees were affected. She says the layoffs were one part of a multi-pronged plan to deal with the effect of tariffs, which also includes diversifying its supply chains and cutting costs. Spin Master said last month that U.S. tariffs on countries where it produces toys, especially China, have made forecasts so challenging that it withdrew its guidance for the remainder of the year. The company behind the Hatchimals, Gabby's Dollhouse and Monster Jam brands has said it aims to drastically reduce its reliance on China for production over the next two years. In February, Spin Master said it had decided to wind down a games studio in Sweden as the cost to acquire new users weighed too heavily on revenue. This report by The Canadian Press was first published June 3, 2025. Companies in this story: (TSX: TOY)
Yahoo
5 hours ago
- Business
- Yahoo
Toy maker Spin Master cuts jobs as it contends with tariff uncertainty
TORONTO — Toy maker Spin Master Corp. says it has cut jobs across the company as it tries to weather the impact of global tariffs on its business. In an emailed statement, spokeswoman Tammy Smitham did not say how many employees were affected. She says the layoffs were one part of a multi-pronged plan to deal with the effect of tariffs, which also includes diversifying its supply chains and cutting costs. Spin Master said last month that U.S. tariffs on countries where it produces toys, especially China, have made forecasts so challenging that it withdrew its guidance for the remainder of the year. The company behind the Hatchimals, Gabby's Dollhouse and Monster Jam brands has said it aims to drastically reduce its reliance on China for production over the next two years. In February, Spin Master said it had decided to wind down a games studio in Sweden as the cost to acquire new users weighed too heavily on revenue. This report by The Canadian Press was first published June 3, 2025. Companies in this story: (TSX: TOY) The Canadian Press Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Winnipeg Free Press
5 hours ago
- Business
- Winnipeg Free Press
Toy maker Spin Master cuts jobs as it contends with tariff uncertainty
TORONTO – Toy maker Spin Master Corp. says it has cut jobs across the company as it tries to weather the impact of global tariffs on its business. In an emailed statement, spokeswoman Tammy Smitham did not say how many employees were affected. She says the layoffs were one part of a multi-pronged plan to deal with the effect of tariffs, which also includes diversifying its supply chains and cutting costs. Spin Master said last month that U.S. tariffs on countries where it produces toys, especially China, have made forecasts so challenging that it withdrew its guidance for the remainder of the year. The company behind the Hatchimals, Gabby's Dollhouse and Monster Jam brands has said it aims to drastically reduce its reliance on China for production over the next two years. In February, Spin Master said it had decided to wind down a games studio in Sweden as the cost to acquire new users weighed too heavily on revenue. Monday Mornings The latest local business news and a lookahead to the coming week. This report by The Canadian Press was first published June 3, 2025. Companies in this story: (TSX: TOY)
