Lego will cut jobs, 'reset' to simplify its structure
by By James F. Peltz, Los Angeles Times
Sep 06, 2017
3 minutes
Lego Group is being forced to retrench after years as a toy-industry standout during which the Danish company leveraged its plastic brick sets and swiveled-arm characters with licensed films, video games and theme parks to double its annual revenue to $6 billion.
Lego said Tuesday that its revenue for the first half of this year fell 5 percent from a year earlier to $2.4 billion, its first revenue decline in 13 years. Net profit fell 3 percent to $544 million. Lego said the pullback was especially notable in mature markets such as the
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