Swedish furniture retailer Ikea says 350 jobs in the UK are at risk as part of its global transformation plan.
Some 7,500 workers will be sacked worldwide as the flatpack furniture brand says it is assessing all parts of the company.
The brand employs 12,100 people in Britain.
Parent company Ingka group said it is “simplifying to enable a greater focus on adding value to its customers”.
As part of the shake-up, 11,500 new jobs will also be created over the next two years through the opening of what Ikea called 30 new “touchpoints”.
This includes 500 new jobs at the UK’s newest store in London’s Greenwich, which is due to open in Spring 2019.
Javier Quinones, Ikea UK and Ireland country retail manager, said: “We are in a fast-changing retail environment and while we continue to grow, we are evaluating how we can remain relevant in the eyes of consumers – now and in the future.
“While the opportunities ahead of us are exciting, we know that some of the changes won’t always be easy and in some cases, we will have to make difficult decisions.
“Co-workers are at the heart of our business and throughout this transformation we will have an ongoing dialogue on how to navigate these changes, to ensure we do this in a way in line with our values and ensuring that our co-workers feel supported.”
Ikea is embarking on a Europe-wide strategy to launch smaller stores in cities, with the first of its kind opening up in central London’s Tottenham Court Road in October.
The sites are not the warehouse-style megastores with cafes that consumers are used to – the new concept will see shops serve as showrooms and delivery hubs.