Swedish-based furniture giant IKEA said it plans to cut approximately 7,500 jobs worldwide over the next couple of years, mainly administrative staff in central support functions, reports CNBC. The 7,500 redundancies amount to nearly 5% of the company’s total workforce. However, IKEA estimates that it will add 11,500 new jobs in the period as it “expands with new store formats and online, grows its service offering and invests in digital capabilities.” This will lead to a net 4,000 jobs created. The group said it is in a period of transformation where it is boosting its digital, delivery and other services and testing new more accessible store formats in a fast-changing retail and consumer landscape.