Lego to lose 1,400 jobs as empire starts to wobble

IT’S the classic toy so beloved of children that it was once considered a better investment than bricks and mortar.

But the empire Lego built may be about to take a downturn.

Children, it appears, are falling out of love with the famous coloured building blocks and for the first time in 10 year, sales have begun to slump.

The Danish firm announced yesterday it is to lose 1,400 jobs in a major overhaul of its business that will effectively trim 8 per cent of its 18,200-strong workforce.

Lego suffered a 5 per cent drop in revenues for the first half of 2017 to £1.8 billion, with net profit slipping 3 per cent to £540million despite tieins with Star Wars and Harry Potter trying to connect with a new generation of young builders.

Jorgen Vig Knudstorp, Lego’s chairman, said yesterday he was “pressing the reset button for the entire group”.