Lego’s new crisis: Plans to cut 8% of its jobs and focus more on digital products

One of the great turnaround stories of the past decade has come unravelled as today Denmark’s Lego announced a decline in revenues and plans to eliminate 1,400 jobs.

In an earnings statement released today, the Denmark-based maker of toys and video games said revenue fell 5 percent during the first six months of 2017. It blamed the drop on weak sales in Europe and the U.S.