Restructuring events
European Restructuring Monitor (ERM)
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.
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.
Eurofound (2017), Lego, Internal restructuring in World, factsheet number 91875, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/91875.