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Toymaker Lego to cut 1,400 jobs as sales decline

The company currently employs some 18,200 people

Reuters  |  Copenhagen 

Toymaker Lego announced plans to lay off 8 per cent of its workforce as it reported a 5 per cent fall in mid-year revenue. The unlisted maker of colourful plastic bricks reported revenue of 14.9 billion Danish crowns ($2.38 billion). That topped My Little Pony producer Hasbro Inc's sales of $1.82 billion and Barbie doll maker Mattel Inc's $1.71 billion. "We are disappointed by the decline in revenue in our established markets, and we have taken steps to address this," Chairman Jorgen Vig Knudstorp said. Lego said it will cut approximately 1,400 ...

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First Published: Tue, September 05 2017. 17:27 IST