‘Challenging’ year for Ikea, 10,000 layoffs in Russia ...Middle East

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‘Challenging’ year for Ikea, 10,000 layoffs in Russia
STOCKHOLM: Swedish furniture giant Ikea posted a six percent rise in full-year sales on Thursday, in what it described as a “challenging” year due to inflation and scaling back in Russia.Following Russia's invasion of Ukraine, Ikea closed its 17 shops and halted production in the country, where it was one of the largest Western employers before the war with 15,000 employees.According to Dutch holding company Inter Ikea’s CEO Jon Abrahamsson Ring, a “substantial reduction” of employees had already been carried out.The 2022 fiscal year “was a challenging year for the world, of course with all the things going on around us with pandemics but also very steep increasing inflation,“ Abrahamsson Ri

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