Swedish furniture giant IKEA has on 21 November announced they will cut 7500 jobs worldwide in a shift toward smaller stores and more online shopping.
Even though 7500 employees will lose their job, the new shift will in the coming two years create 11,500 new jobs globally, according to IKEA.
That will happen by opening around 30 new IKEA touchpoints, investments in its fulfilment network and in digital capabilities.
“We continue to grow and perform strongly. At the same time, we recognise that the retail landscape is transforming at a scale and pace we’ve never seen before. As customer behaviours change rapidly, we are investing and developing our business to meet their needs in better and new ways,” says Jesper Brodin, Chief Executive Officer, Ingka Group.
Ingka Group currently operates 367 IKEA stores in 30 countries and employs 160,000 of Ikea’s total workforce of 208,000.
IKEA was founded in 1943 by Ingvar Feodor Kamprad.