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
1,400 jobs Number of planned job losses
Announcement Date
5 September 2017
Employment effect (start)
12 September 2017
Foreseen end date
31 December 2017
Description
On Tuesday 5 September 2017, the Danish toy manufacturer LEGO announced the plan to cut 1,400 jobs by the end of 2017. The company estimates the need to reduce the global workforce by 8% and while is not yet clear where the job cuts will fall, up to 600 jobs will be lost in Denmark. The decision to cut jobs is due to the change in demand in established markets (US and Europe) and there is a clear need of simplification of the business model.
Lego employs around 18,200 people worldwide and it has office hubs and factories in Denmark, in the US, London, Singapore, Shanghai, Mexico, Hungary, Czech Republic and China.
Sources
5 September 2017: The Guardian
5 September 2017: CNBC
Citation
Eurofound (2017), Lego, Internal restructuring in World, factsheet number 91875, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/91875.
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