While their company keeps slouching into oblivion, the Hasbro/WotC execs gift themselves massive bonuses.
#dnd #ttrpg #osr
So they lay off a bunch of people to reduce costs because of falling revenues and reward themselves for their failure with millions in bonuses. Is anyone at Hasbro paying attention?
I don't think that is all that unusual. Horrible yes, unusual no.
Laying off staff to boost profits and executive bonuses is one of the oldest tricks in the book. Given how hard they dropped the ball, WotC's ex-Microsoft management are probably just giving themselves a golden handshake on the way out the door.
All of this looks like Chapter 11 preps to me.
You don't know how to read a proxy statement or understand the timing. The cash bonuses are for last year's results and the stock is long term in nature and the need to perform well enough to have a high stock price to make it worth anything.
At first it was funny until I realized they just dumped the people who make the physical product, now it's just sad. I mean you've got a clear group of people, the design team, that are producing subpar products. Even if you set aside and ignore the political side of their crap, the products themselves just haven't been very good. It just sucks that the people around them have to pay for their bad ideas.
Welcome to Corporate America.
This is not just Hasbro.
My favorite is when execs push out brilliant new policies, ignoring all input from middle management, that are complete garbage. They spend 2-3 years wrecking the company, collect their million, and off to another company while everyone else gets laid off.
Who hires these ivy league buffoons? Answer... the ivy league buffoons on the boards of directors.
This kind of thing is ubiquitous in the corporate world.
Quote from: Ruprecht on December 23, 2023, 10:50:44 PM
I don't think that is all that unusual. Horrible yes, unusual no.
Sad but true.
Quote from: David Johansen on December 23, 2023, 11:00:07 PM
Laying off staff to boost profits and executive bonuses is one of the oldest tricks in the book. Given how hard they dropped the ball, WotC's ex-Microsoft management are probably just giving themselves a golden handshake on the way out the door.
Corporate executives, will always make sure they get theirs first. They have been working hard at WOTC, running the biggest name in RPGs into the ground.
Quote from: BadApple on December 24, 2023, 05:25:02 AM
All of this looks like Chapter 11 preps to me.
I don't think so. Hasbro still has a market cap in the billions.
Honestly, new management and new designers sounds like a best case scenario. The sooner the better.
Quote from: RPGPundit on December 24, 2023, 04:58:44 PM
Quote from: BadApple on December 24, 2023, 05:25:02 AM
All of this looks like Chapter 11 preps to me.
I don't think so. Hasbro still has a market cap in the billions.
For how long? If they keep obsessing with "The Message" and "The Profit" then they will eventually burn out.
Quote from: David Johansen on December 24, 2023, 10:34:37 PM
Honestly, new management and new designers sounds like a best case scenario. The sooner the better.
Except they will just hire more of the same nuts allready dragging everything down.
Quote from: Omega on December 25, 2023, 09:37:04 PM
Quote from: David Johansen on December 24, 2023, 10:34:37 PM
Honestly, new management and new designers sounds like a best case scenario. The sooner the better.
Except they will just hire more of the same nuts allready dragging everything down.
Well....got to keep those ESG scores up thanks to BR owning quite a bit of stock.
Looking forward to AI replacing all the middle to upper management. They'll fight it, but it's inevitable when the first company starts saving all that hookers and blow money.