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The Ingka Group, which owns and operates most Ikea stores, announced on Wednesday that it was cutting its global workforce by 5% and was heading to smaller stores and more online shopping. The company will lay off approximately 7,500 employees.
"We recognize that the retail sector is transforming at a speed and speed never before achieved," said Jesper Brodin, CEO of the Ingka Group, in a statement. "As customer behavior changes rapidly, we are investing and developing our business to meet their needs more efficiently and more recently."
The cuts will affect administrative and support positions. Ikea said that fewer than 75 jobs would be cut in the United States.
"We will focus more on improving our existing stores and the opportunity to renew and reinvent our business in a way that is inspired by our history, culture and value." said Brodin.
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