Ikea

The cuts would impact office-based jobs across the group, mainly in Sweden and Netherlands

The company’s move comes as global brands ramp up export production in India to cut costs

The restructuring is aimed at directing resources to channels closer to consumers

The push for local production aims to support its expansion in the US, its second-biggest market, and the wider region

[AUCKLAND] Ikea opened its first store in New Zealand on Thursday, entering its 64th market and marking the furniture retailer’s most distant outpost from its native Sweden.

Overall sales from the company’s stores across 63 markets around the world fall for a second year in a row

From BMW to Uniqlo and Ikea, global companies have soured on China’s outlook

The takeover is in addition to a US$2.2 billion push by Ingka Group

While the company has trimmed prices globally, weak spending and intense competition have made cuts especially vital in the Asian nation