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Lego to cut 1,400 jobs as profit declines amid change of leadership

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Down cycle: Lego's slowdown began last year as more of its markets mature, with US sales stagnating despite higher spending on marketing. Retailers have also pointed to the sagging appeal of Lego products.

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Former Danfoss boss Niels Christiansen (above) will replace Bali Padda as Lego CEO on Oct 1.

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Former Danfoss boss Niels Christiansen will replace Bali Padda (above) as Lego CEO on Oct 1.

Copenhagen

LEGO A/S reported a decline in sales and profit, and said it would cut 8 per cent of its workforce as Europe's biggest toymaker is going through a leadership transition phase after a decade of rapid expansion.

Net income in the first half of the year declined by 3 per

sentifi.com

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