
Toronto-based toy maker Spin Master cuts jobs as it weathers tariff impacts
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.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Globe and Mail
an hour ago
- Globe and Mail
Mirova US LLC Increases Stake in Nvidia Corporation
Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Mirova US LLC, managed by Philippe Zaouati, recently executed a significant transaction involving Nvidia Corporation ((NVDA)). The hedge fund increased its position by 1,242,633 shares. Spark's Take on NVDA Stock According to Spark, TipRanks' AI Analyst, NVDA is a Outperform. Nvidia's strong financial performance and positive earnings call highlight its leadership in the semiconductor industry, driven by robust growth in AI and data center segments. Technical indicators suggest a strong bullish trend, although valuation concerns due to a high P/E ratio and overbought signals may pose risks. The strategic focus on AI offsets geopolitical challenges, supporting a positive outlook. To see Spark's full report on NVDA stock, click here. More about Nvidia Corporation YTD Price Performance: 27.19% Average Trading Volume: 198,286,173 Current Market Cap: $4167B Disclaimer & Disclosure Report an Issue


Globe and Mail
2 hours ago
- Globe and Mail
Mirova US LLC Increases Stake in Microsoft
Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Mirova US LLC, managed by Philippe Zaouati, recently executed a significant transaction involving Microsoft ((MSFT)). The hedge fund increased its position by 361,519 shares. Spark's Take on MSFT Stock According to Spark, TipRanks' AI Analyst, MSFT is a Outperform. Microsoft's overall stock score is driven by its strong financial performance and positive earnings call sentiment. The company benefits from consistent revenue growth and high profitability, supported by effective cash flow management and a solid balance sheet. Technical indicators show positive momentum, although overbought conditions suggest caution. The high P/E ratio reflects market confidence but also hints at potential overvaluation. Continued strength in cloud and AI services positions Microsoft well for future growth. To see Spark's full report on MSFT stock, click here. More about Microsoft YTD Price Performance: 20.48% Average Trading Volume: 19,965,959 Current Market Cap: $3759.9B Disclaimer & Disclosure Report an Issue


Globe and Mail
2 hours ago
- Globe and Mail
Focused Investors Llc Reduces Stake in Microsoft
Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Focused Investors Llc, managed by Bruce Gordon Veaco, recently executed a significant transaction involving Microsoft ((MSFT)). The hedge fund reduced its position by 6,800 shares. Spark's Take on MSFT Stock According to Spark, TipRanks' AI Analyst, MSFT is a Outperform. Microsoft's overall stock score is driven by its strong financial performance and positive earnings call sentiment. The company benefits from consistent revenue growth and high profitability, supported by effective cash flow management and a solid balance sheet. Technical indicators show positive momentum, although overbought conditions suggest caution. The high P/E ratio reflects market confidence but also hints at potential overvaluation. Continued strength in cloud and AI services positions Microsoft well for future growth. To see Spark's full report on MSFT stock, click here. More about Microsoft YTD Price Performance: 20.48% Average Trading Volume: 19,965,959 Current Market Cap: $3759.9B Disclaimer & Disclosure Report an Issue