Dyson to layoff staff by over a quarter in the UK
10 Jul 2024 --- Dyson will axe over a quarter of its UK jobs as a means of cost-cutting, with the chief executive emphasizing the need for the technology company to be “entrepreneurial and agile.”
In an email this Tuesday, the company informed its staff that it would be removing approximately 1,000 of its 3,500 jobs across offices in Wiltshire, Bristol and London.
Chief executive Hanno Kirner told employees: “We have grown quickly and, like all companies, we review our global structures from time to time to ensure we are prepared for the future.”
“As such, we are proposing changes to our organization, which may result in redundancies. Dyson operates in increasingly fierce and competitive global markets, in which the pace of innovation and change is only accelerating.”
Dyson is well known for its vacuum cleaners, hair tools and air treatment technology. Its star product, the Dyson Airwrap, is a staple among beauty influencers and maintains consistent buzz in the hair care industry.
Worldwide cuts
The cuts are part of a broader cost-cutting strategy to reduce the business’s 15,000 workforce worldwide.
Dyson, which creates home appliances, announces it will reduce jobs in the UK.“Decisions that impact close and talented colleagues are always incredibly painful,” Kirner says, adding that those whose roles are at risk of redundancy “will be supported through the process.”
Danni Hewson, head of financial analysis at investment firm AJ Bell, told the BBC that while the company had made it clear its plans were a long time in the making, there “have been questions about the future of the business in the UK since 2019,” when it moved its headquarters to Singapore.
Asian markets account for over half of Dyson’s sales, and Singapore has a free trade agreement with the EU.
“News that British appliance manufacturer Dyson is to pare back its UK workforce by a quarter is a significant blow not just to those losing their jobs but also to Labour’s push to get the economy growing. The decision is an uncomfortable one and begs the question of whether Sir James Dyson and his company believe the future must be found elsewhere,” prompts Hewson about the company’s founder.
By Sabine Waldeck
