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LEGO® to cut up to 1,000 jobs
Business Newswire
March 2, 2004
COPENHAGEN - Beleaguered Danish toy giant LEGO®, will lay off up to 1,000
employees worldwide, or 12% of its staff, after registering record losses in
2003, the Danish financial daily Boersen reports.
LEGO announced in January that it expects to post a loss of 1.4 billion kroner
in 2003, only its third loss since the company was founded in 1932 and its
biggest loss ever.
LEGO owner and president, Kjeld Kirk Kristiansen - the 56-year-old grandson of
company founder Ole Kirk Christiansen - had said the company now planned to
change its strategy after attempts to diversify its brand name failed.
He had indicated that the changes would inevitably lead to job cuts.
Company spokeswoman Charlotte Simonsen would only confirm that jobs would be
cut, but would not say how many.
“It is clear that our new strategy will lead to lay-offs. But we have not yet
decided how many jobs will go nor which divisions will be affected,” she said.
LEGO “will announce its worldwide staffing decisions at the end of March,” she
added.
LEGO launched a major restructuring between 1998 and 2000 that resulted in 1,500
job cuts, bringing its headcount to 7,500 people.
But “we have since done some hiring, so we had a total of 8,500 employees at the
beginning of 2003 before bringing the number down to 8,000 today,” Simonsen
said.
LEGO has some 3,000 employees in Denmark.
http://www.bday.co.za/bday/content/direct/1,3523,1557743-6078-0,00.html
-end of report-
Only 10 months until 2005
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