Lego sales drop for first time in 13 years. The plan: Cut jobs and ‘reset the company’ – Los Angeles Times

Lego has decided it’s time to break down the blocks and start again.

After using new ventures such as films and new toy lines to build up sales since a near-bankruptcy in 2004, the company seems to have hit a peak. Its sales are now falling for the first time in 13 years, and it says it needs to simplify its operations.

That means cutting 1,400 jobs, or 8% of its global workforce.

The privately held Danish firm said Tuesday that it is preparing “to reset the company,” with a new chief executive due to take over in October.

Comments

Write a Reply or Comment:

Your email address will not be published.*