Lego to Cut 1,400 Jobs by the End of the Year

WHY LEGO PLANS TO CUT EIGHT PERCENT OF ITS WORKFORCE

(CNN) – Everything does not appear to be awesome at Lego these days.

The toymaker announced plans to cut 1,400 jobs.

That’s eight percent of its workforce.

The reason?

Lego reported its first drop in revenue in more than a decade, while operating profits fell six percent in the first six months of this year.

Lego’s CEO says the cuts are part of a complete overhaul of the toymaker in order to create what he calls a “smaller, less complex” organization.

Categories: US News