Dyson Reduces UK Workforce by Nearly One-Third, Citing Intense Competition
Sir James Dyson, the entrepreneur who relocated his company headquarters to Singapore, is now planning to lay off approximately 1,000 of his employees in the UK.
Dyson aims to reduce its UK workforce of 3,500 by 1,000 as part of a significant restructuring, citing intense competition in global markets as the reason.
The company, known for its bagless vacuum cleaners and founded by Sir James Dyson, informed its staff via email that the decision was made after a review of its global operations.
In 2019, Sir James moved the company’s headquarters from Malmesbury, Wiltshire, to Singapore. The company also operates factories and offices in Malmesbury, London, and Bristol, with the Dyson Institute based in Malmesbury.
Dyson stated that the review process began before the recent general election and is unrelated to the Labour party’s victory.
Last year, Dyson reported on its website that it achieved record global revenues in 2023, totaling £7.1 billion, which was a 9 percent increase from the previous year.
Chief Executive Hanno Kirner mentioned in the email to employees that the company is proposing organizational changes that may lead to redundancies, citing the competitive nature of global markets and the need to keep up with the increasing pace of innovation and change.
Dyson had previously cut 1,000 jobs worldwide at the onset of the COVID-19 pandemic in 2020, including 600 in Britain and over 300 overseas.
Sir James Dyson, who founded the company in 1991 and was knighted for his contributions to business in 2007, has been vocal about the importance of returning to the office post-lockdown to maintain the prospects of the next generation.
In December 2023, Sir James criticized government officials for not fostering growth and praised their predecessors for their actions.
Recent developments in government leadership changes have also impacted the company’s operations.
Report by PA Media
