{"id":116162,"date":"2017-09-05T05:35:11","date_gmt":"2017-09-05T09:35:11","guid":{"rendered":"https:\/\/canadianinquirer.net\/v1\/?p=116162"},"modified":"2025-01-08T23:23:14","modified_gmt":"2025-01-09T04:23:14","slug":"lego-to-cut-8-per-cent-of-its-staff-after-sales-drop","status":"publish","type":"post","link":"https:\/\/canadianinquirer.net\/v1\/2017\/09\/05\/lego-to-cut-8-per-cent-of-its-staff-after-sales-drop\/","title":{"rendered":"Lego to cut 8 per cent of its staff after sales drop"},"content":{"rendered":"
\"FILE:<\/a>
FILE: Danish toy company Lego (Photo: LEGO\/Facebook)<\/figcaption><\/figure>\n

COPENHAGEN \u2014 Danish toy maker Lego will cut 1,400 jobs, or about eight per cent of its global workforce, after reporting a decline in sales and profits in the first half of 2017.<\/p>\n

The privately held company said Tuesday that its revenue dropped 5 per cent to 14.9 billion kroner ($2.4 billion) in the first six months of the year, mainly as a result of weakness in established markets like the U.<\/p>\n

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S. and Europe. Profits slipped 3 per cent to 3.<\/p>\n

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4 billion kroner ($544,000).<\/p>\n

It said it \u201cnow prepares to reset the company.\u201d<\/p>\n

\u201cWe are disappointed by the decline in revenue in our established markets, and we have taken steps to address this,\u201d said Chairman Joergen Vig Knudstorp.<\/p>\n

He said the long-term aim is to reach \u201cmore children in our well-established markets in Europe and the United States,\u201d and added there were \u201cstrong growth opportunities in growing markets such as China.\u201d<\/p>\n

The company, he said, needs to simplify its business model to reduce its costs. Since 2012, the group has built an increasingly complex organization to support global double-digit growth. However, \u201cin the process, we have added complexity into the organization which now in turn makes it harder for us to grow further,\u201d Vig Knudstorp said.<\/p>\n

He told Denmark’s TV2 that staff cuts would mainly affect administration and sales, not production.<\/p>\n

Last month, the maker of the famous colored building blocks appointed Niels B. Christiansen, who headed thermostat-maker Danfoss for nine years, as its chief executive to replace interim British CEO Bali Padda.<\/p>\n

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Christiansen will start Oct. 1.<\/p>\n

Based in western Denmark, Lego does not release quarterly figures. The group currently has more than 19,000 employees around the world.<\/p>\n","protected":false},"excerpt":{"rendered":"

COPENHAGEN \u2014 Danish toy maker Lego will cut 1,400 jobs, or about eight per cent of its global workforce, after …<\/p>\n","protected":false},"author":33,"featured_media":111153,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16,17],"tags":[20930],"class_list":["post-116162","post","type-post","status-publish","format-standard","has-post-thumbnail","category-news","category-news-w","tag-lego","mauthors-jan-m-olsen","mauthors-the-associated-press"],"_links":{"self":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/116162","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/users\/33"}],"replies":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/comments?post=116162"}],"version-history":[{"count":1,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/116162\/revisions"}],"predecessor-version":[{"id":281325,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/116162\/revisions\/281325"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media\/111153"}],"wp:attachment":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media?parent=116162"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/categories?post=116162"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/tags?post=116162"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}