Thanks to Trump's tariffs and saber-rattling, Hasbro is investing in factories in Vietnam and India, de-emphasizing its China operations: the world's biggest toymaker insists that the initiative -- which will cut China's share of its manufacturing from two-thirds to one-half -- is about "spreading our footprint and adding new geographies for production."
Notably, despite Trump's insistence that trade war would shift jobs from China to America, the impact seems to be primarily about moving jobs from China to other low-waged countries, a process that has been underway for a decade as Chinese labor costs have risen.
Chief Financial Officer Deborah Thomas said some retailers briefly paused direct import orders from manufacturing locations during the second quarter as they watched the trade situation. Last year, 35% of Hasbro’s U.S. and Canada revenue was delivered through such direct imports. It expects the percentage to decline this year, forcing Hasbro to take on more imports itself.
World’s Top Toymaker Joins Companies Leaving China’s Factories [Jeff Sutherland/Bloomberg]
PayPal on Thursday says it has halted payment support for models with PornHub, the online adult site, after Paypal says it found that Pornhub made certain payments without PayPal’s permission.
Rev.com is a "gig economy" audio transcription company that operates under the fiction that its employees are "independent contractors."
After years of poorly-received MacBook Pro models, Apple’s new sixteen-inch model has a lot riding on it.
The more you use your computer, the more it becomes possible for others to use it too. Where there are anti-virus systems, there are hackers looking for a way to get around them. That’s why it’s important to get software that doesn’t just passively scout for viruses in the background. The folks behind GlassWire have […]
Knowledge is power. It’s a cliché, but sometimes things turn into a cliché because they’re true. If you’re making your way through the world of business and entrepreneurship, it only makes sense to read about the insights of people who have climbed that ladder before you. Trouble is, the modern workday doesn’t leave a lot […]
As much as some of us fear the loss of our jobs to robots, there’s one job we’re pretty sure they are welcome to: vacuuming. There’s nothing quite like kicking back and watching a robot vacuum do one of the most time-consuming tasks on the household chore list. And there are few ‘bots that do […]