Lego cuts 1,400 jobs after decade of growth comes to an end

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Lego has reported a 5% fall in its revenues in the first half of the year to DKK 14.9bn (£1.8bn).

The dip caused profits to fall 3% to DKK 4.4bn.

The toymaker said it would be cutting 8% of its global workforce, or 1,400 staff, The Telegraph reports.

Jørgen Vig Knudstorp, executive chairman of the Lego Group, said he was "pressing the reset button" in order to achieve a "smaller and less complex organisation".

Last month, Bali Padda, the first non-Danish chief executive of the company, was ousted after just eight months in the role – although Knudstorp said the move was not because of poor performance, but that Padda had only been intended to hold the position for a short time.