The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Manufacturing Manufacturing Of Furniture And Other Manufacturing Other Manufacturing 32.4 - Manufacture of games and toys
500 - 600 jobs Number of planned job losses
Announcement Date
5 September 2017
Employment effect (start)
Foreseen end date
31 December 2017
Description
The Danish toy producer LEGO has announced that the company will cut between 500 and 600 jobs in Denmark before the end of 2017. According to the management, there is a need to 'push the reset button' and simplify the business model in order to fulfil the long term ambitions of LEGO. This happens six months after the LEGO Group reached the highest turnover in its 85-years long history. The first six months of 2017 showed a 5% decrease in sales and the turnover dropped by 6%.
The LEGO Group, with its headquarters in Billund, Denmark, estimates that there will be a need to reduce the global workforce by 8%. This will affect approximately 1,400 jobs, of which up to 600 in Denmark.
Sources
5 September 2017: Børsen.dk
Citation
Eurofound (2017), LEGO, Internal restructuring in Denmark, factsheet number 91857, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/91857.
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