Lego to axe 1,400 jobs

After posting its first sales drop in more than a decade, Lego is cutting 1,400 jobs by year's end.

The Danish toymaker's move will affect 8 percent of its 18,200 employees globally.

“We are very sorry to make changes which may interfere with the lives of many of our colleagues,” said Jorgen Vig Knudstorp, Lego chairman. “Our colleagues put so much passion into their work every day and we are deeply grateful for that.

"Unfortunately, it is essential for us to make these tough decisions.”

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