Millennium Post

Ikea plans to sack 7,500 staff due to shifting buyer behaviour

New Delhi: Swedish furniture major IKEA Wednesday said its employee count in India may see a ten-fold rise to 15,000 in future, whereas the company may look at trimming around 7,500 jobs globally as part of restructuring.

Also, IKEA said it is on track to invest 1.5 billion euros in India and aims to be present in many cities in the country in the coming years.

In August 2018, the global furniture giant opened its first India store in Hyderabad and is looking to enter Mumbai next with online and stores.

The company intends to reach 200 million Indians in the coming three years through different channels as it looks at India as a new and expanding retail market for Ingka Group, the parent firm of IKEA.

Globally in Ingka's top 30 mega city strategies, three Indian cities Mumbai, Bangalore and Delhi - are included which reinforces IKEA's belief in the potential of India.

"Through its expansion in India, it (IKEA India) will create many more direct and indirect jobs. The number of co-workers is expected to grow from the current strength of 1,500 co-workers to over 15,000 co-workers in the future, out of which 50 per cent will be women," IKEA India said in a statement.

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