On Tuesday Lego announced that it plans to lay off 1,400 people — about 8 percent of its workforce — as it does that thing all companies are trying to do: Pivot to digital.
Yes, even a highly successful maker of children's modular toys cannot resist the digital world.
The news comes as Lego reported its first fall in sales in more than a decade. The company also admitted it's not too optimistic about the next couple years, setting expectations low for a return to sales growth in the immediate future.
"We have now pressed the rest-button for the entire group," said Jorgen Vig Knudstorp, chairman on Lego, to Reuters. Read more...
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