Categories Markets, Retail

IKEA Group to cut 7,500 jobs

IKEA Group looks to cut 7,500 jobs in the next couple of years, according to the company. The furniture giant said these jobs would mostly be administrative staff in central support roles.

However, IKEA Group said that it also plans to create 11,500 more jobs in the same period as it explores new formats of retail sale and in online channels.

IKEA confirmed that this reorganization is not aimed at store operation or distribution units, and said that it was trying to cut down on duplicate roles.

IKEA plans to cut 7500 jobs
IKEA Southampton (Source: IKEA)

Earlier this week, Business Insider reported that IKEA employees were dissatisfied with the company due to a policy introduced in 2017 across all of its US stores.

The O4G policy — which moves around the roles of store workers — seemed to have caused dissent among its employees, or “co-workers” as the company terms them.

Follow our Google News edition to get the latest stock market, earnings and financial news at your fingertips

Most Popular

Infographic: Nvidia (NVDA) Q4 revenue up 61%; earnings beat

Nvidia Corporation (NASDAQ: NVDA) Wednesday said its fourth-quarter revenues and profit increased in double-digits amid elevated demand. The results also topped the Street view, driving the stock higher during the

Nutanix (NTNX) Earnings: 2Q21 Key Numbers

Nutanix (NASDAQ: NTNX) reported second quarter 2021 earnings results today. Total revenue remained flat at $346.4 million compared to the same period a year ago. GAAP net loss was $287.3

Macy’s (M) expects digital channels to generate approx. $10 billion in sales by 2023

Shares of Macy’s Inc. (NYSE: M) were down 2.7% in morning trade on Wednesday. The stock has gained 37% since the beginning of the year. A day ago, the retailer

Tags

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top