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IKEA to shed 7,500 jobs including 350 in UK

IKEA has announced that it is to shed 7,500 jobs worldwide as it shifts its focus to smaller stores and online shopping.

HOME & DIY

IKEA to shed 7,500 jobs including 350 in UK

IKEA has announced that it is to shed 7,500 jobs worldwide as it shifts its focus to smaller stores and online shopping.

The company said the job losses will mainly impact its offices and “global functions” across 30 markets.

In addition, the retailer will be creating 11,500 new jobs over the next two years through the opening of around 30 new smaller stores and investments in its fulfilment network and ecommerce platform.

Jesper Brodin, chief executive of Ingka Group, IKEA's parent company, said: “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. We will put greater emphasis on making our existing stores even better and taking the opportunity to renew and reinvent our business in a way that is inspired by our history, culture and values.”

IKEA has opened two new stores in Sheffield and Exeter in the 2018 financial year and has also launched its new smaller Planning Studio format in the heart of London in Tottenham Court Road. In addition, the retailer is opening a new store in Greenwich next spring that will create 500 new jobs, although IKEA said its transformation plans are likely to lead to the loss of 350 jobs in the UK during the next two years. These will mostly be head office type roles.

Javier Quiñones, IKEA UK and Ireland country retail manager, said: "We are in fast-changing retail environment and while we continue to grow, we are evaluating how we can remain relevant in the eyes of consumers – now and in the future. We recently announced our City Centre Approach starting with London and we will continue to invest in being more convenient through our enhanced service offer and digitialisation." 

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