MALMO, Sweden—Faced with falling sales, Brio plans to pare approximately 30 white-color jobs from its payroll as a cost-cutting measure.
“Brio’s in-house developed toys, prams and child safety seats for cars have shown good growth, which is positive for our margins,” said Hakan Johansson, Brio’s acting CEO, in a statement released on November 26. “Unfortunately, our total sales have been weaker than expected and we calculate that the downturn in the global economy will mean further challenges. Therefore, we must reduce costs in our efforts to achieve profitability.”
The move is expected to cost approximately $5 million but save the company nearly that much annually.
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