Dyson Cuts 1,000 Jobs in UK, Part of Global Reduction to Remain ‘Agile’

What’s happening at Dyson?

Dyson is cutting around 1,000 employees in the UK, which represents 25% of the country’s workforce.

The British appliance maker, which has been operating out of Singapore the last few years, informed staff about the layoffs on Tuesday. This move is part of a broader reduction affecting Dyson’s global workforce of over 15,000 employees, unnamed sources told The Financial Times.

Official statements and context

The cuts are part of a wider reduction to its global workforce of more than 15,000 people, The Financial Times reported citing unnamed sources.

• Dyson CEO Hanno Kirner says that the company had expanded rapidly but faced “increasingly fierce and competitive global markets.” He emphasized the need for Dyson to become “entrepreneurial and agile” to navigate these challenges.
• This isn’t the first time Dyson has reduced its workforce. In 2020, the company laid off 900 employees, attributing those cuts to the impacts of the COVID-19 pandemic.

Company performance

Despite the layoffs, Dyson’s financial performance has been strong. The company reported record revenues of $9.1 billion last year, an increase from 2022. Dyson’s product lineup includes vacuum cleaners, hair dryers, and other innovative devices.

Founded in 1991 by James Dyson, the company has undergone significant changes, including relocating its headquarters to Singapore in 2019. James Dyson, who ranks 109th on the Bloomberg Billionaires Index with a net worth of $19.2 billion, made headlines when he purchased a $54 million penthouse in Singapore’s tallest building.

Impact on Canadian staff

It remains unclear if Canadian employees have been let go by Dyson in this latest round of layoffs.

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