In these days with fewer people buying houses, so fewer are buying furniture to fill up new homes, and many furniture makers and retailers have suffered big sales losses as the economy has slowed. Those who might have upgraded their current décor are holding off. Few purchases can be put off as easily as furniture. You can always sit on your old sofa for another year or two. But today’s news makes clear that the furniture market’s problems can be extended globally.
For example …swedish flat-pack giant Ikea must cut more jobs than previously announced as the financial crisis continues to weigh on demand for its furniture, founder said ( WSJ & Guardian ). Kamprad did not say exactly how many workers would be affected. In the past 10 months, Ikea has already slashed 5,000 jobs globally after sales dropped 7% below budget. What do you think about this ?