economy
Swedish furniture company Ikea announces it will have to lay off 850 employees: these are the reasons
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TL;DR
- Inter IKEA Group is laying off 850 employees worldwide.
- The layoffs are intended to simplify the company's structure and concentrate resources.
- The company cited complexity and fragmentation as reasons for the decision.
- Approximately 3% of the workforce will be affected.
- Around 300 employees in Sweden will be laid off.
- Ingka Group, a main IKEA distributor, also announced about 900 layoffs in March for similar reasons.