Ikea to compensate political prisoners who built furniture during East German dictatorship with €6m - Ikea Germany said it ‘regrets wholeheartedly’ that East German political prisoners produced Ikea p

Furniture giant IKEA has agreed to pay 6 million euros ($6.5 million) towards a government fund compensating victims of forced labor under Germany’s communist dictatorship, in a move campaigners hope will pressure other companies to follow. Political as ...

Swedish-based furniture giant IKEA experienced a 4.3% fall in revenue this year in Germany, its largest foreign market, according to data released on Monday. The company, Germany's leading furniture retailer,

Ikea is not alone in the matter, as East Germany was a hotspot for cheap labor under the communist regime, which many companies capitalized on. The company is now voluntarily paying €6 million toward a government fund compensating the forced labor victims under East German dictatorship.

In a statement this week, IKEA Germany announced it would voluntarily put €6 million ($9.9 million) towards the new government fund established to provide compensation to victims of the East German dictatorship.

In what CNN is describing as a "landmark move," IKEA will pay about $6.5 million to compensate the former prisoners who were forced to build furniture for the company in communist East Germany during the Cold War era.