Lego Cutting Jobs
Hard times for the maker of an iconic toy.
FOX’s Lilian Woo reports:
Toymaker Lego announcing it’s slashing jobs as sales of those plastic bricks hit a brick wall. The Danish company experiencing its first revenue decline in 13 years as half year results showed a five percent drop compared to a year ago.
The 1400 cuts coming this year accounting for about eight percent of its workforce and the company’s chairman says he expects the layoffs to be a one off.
The company facing tough competition from smartphone apps and video games has been modernizing toys, including programmable robots.
Lilian Woo, FOX News.
