Ailing Ikea says the retail giant’s problems are similar to those faced by the nation’s largest home improvement stores in the 1980s and 1990s.
The company is struggling to make up for the loss of business, and it has also been hit by several labor disputes.
Last month, an employee at one of its stores in New York filed a class-action lawsuit in New Jersey over a dispute about pay.
“We know that the company is in the midst of a financial crisis, and we know that people are working very hard for the company,” said Ikea spokeswoman Jessica Fusaro.
“The company has taken all measures to minimize disruption to customers and to help its employees as much as possible.
We’re also making the necessary investments in the company’s supply chain.”
The retailer has already lost a number of employees as it tries to rebuild its supply chain.
In December, the company said it had fired 2,700 employees in the past year.
As part of its effort to restore its business, the retailer will hire at least 1,000 more workers in 2019, said Fusararo.
Ikea has said it will hire 5,000 people over the next three years.