The man who builds LEGO for a living

Lego will cut 1,400 jobs as part of a broad overhaul of its strategy after a decade of rapid growth.

The job cuts, which account for roughly 8% of the toymaker’s workforce, were announced alongside a drop in profit along with also sales for the first six months of 2017.

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The Danish company hasn’t suffered an annual revenue decline in 13 years.

Lego was forced to reinvent itself after coming under intense pressure through electronic toys along with also video games from the early 2000s. the item slimmed down along with also refocused, finding success with The Lego Movie along with also product lines based on Star Wars along with also Disney Princess.

the item expanded factories in Mexico, Hungary along with also Denmark as sales quintupled over a decade to reach 38 billion krone ($6 billion) in 2016. The number of employees boomed too, jumping through 4,0 in 2007 to the current 18,0.

however the company acknowledged Tuesday that will the item right now needs to simplify operations.

“We have added complexity into the organization which right now in turn makes the item harder for us to grow further,” Lego chairman Jorgen Vig Knudstorp said in a statement. “As a result, we have right now pressed the reset button.”

Lego will desire for a return to profit under its brand-new CEO, Niels Christiansen, who will be set to start in October. His first task will be turning around declining sales in established markets including the U.S. along with also parts of Europe. China, meanwhile, remains a bright spot.

Related: ‘Force Friday’ will be Christmas morning for Star Wars fans

A Lego spokesperson declined to comment on where the jobs could be cut, however the company said a majority of the 1,400 positions will be gone before the end of the year.

Lego will be owned by the Kirk Kristiansen family, which founded the item in 1932.

sy88pgw (London) First published September 5, 2017: 7:15 AM ET