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Lego plans to cut 1400 employees

Lego plans to reduce its work force with 8% or 1400 employees. Over the last year Lego has expanded their business successfully into many new markets with a current staff of 18200 people. In the first half this year the sales has dropped 5 percent to 14.9 billion Danish kroner. One reason is that children spend more time on digital alternatives.

“We’re losing momentum and we’re losing productivity. We have built an increasingly complex organization. This could ultimately lead to stagnation or decline.”

Link to Bloomberg