Hasbro laying off 1,100 employees

(CNN)– Toy maker Hasbro is slashing nearly 20% of its workforce amid an ongoing slump in sales.

The company’s CEO announced layoffs for 11 hundred workers in a Monday memo to employees.

The cuts are on top of roughly 800 jobs eliminated earlier this year.

Hasbro management said the decision to reduce its workforce was made in light of market headwinds that are stronger and longer than projected.

Some employees will find out this week whether their job has been eliminated while the rest of the layoffs will happen over the next six months.