TORONTO — Toy buildr Spin Master Corp. states 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 state how many employees were affected.
She states 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 declared last month that U.S. tariffs on countries where it produces toys, especially China, have created forecasts so challenging that it withdrew its guidance for the remainder of the year.
The company behind the Hatchimals, Gabby’s Dollhoutilize and Monster Jam brands has declared it aims to drastically reduce its reliance on China for production over the next two years.
In February, Spin Master declared it had decided to wind down a games studio in Sweden as the cost to acquire new utilizers 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
Leave a Reply