Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

Dyson to cut nearly a third of its UK workforce

by July 9, 2024
July 9, 2024
Dyson to cut nearly a third of its UK workforce

Dyson, the renowned technology company founded by Sir James Dyson, is set to cut nearly a third of its British workforce in response to intense market competition.

The company announced on Tuesday that it plans to lay off approximately 1,000 of its 3,500 UK-based employees.

Hanno Kirner, Dyson’s chief executive, described the redundancies as “painful” but necessary following a global operational review initiated earlier this year. This review, which began before the general election was called in May, is not connected to the policies of the new Labour government.

The job cuts come in the wake of Dyson’s decision to discontinue its electric car project and the launch of its controversial Zone Absolute headphones. These noise-cancelling, air-purifying headphones, featuring a mask that covers the mouth, were initially priced at £819.99 but have since been reduced to £579.99.

Dyson Ltd, the UK branch of the company known for its bagless vacuum cleaners, hair dryers, and heaters, experienced a 10% drop in sales to £376 million in 2022. Despite this, global sales increased from £6 billion to £6.5 billion in the same year, with revenues hitting £7.1 billion the following year, even amid challenges like the closure of its Russian operations and supply chain disruptions.

It remains unclear if the job cuts will affect Dyson’s international operations, including its 2,000 employees in Singapore. The UK job reductions will impact Dyson’s campus in Malmesbury, Wiltshire, which will continue to serve as a major research site and home to the Dyson Institute.

In a statement, Kirner said, “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. Dyson operates in increasingly fierce and competitive global markets, in which the pace of innovation and change is only accelerating. We know we always need to be entrepreneurial and agile – principles that are not new to Dyson.”

He acknowledged the difficulty of the decision, adding, “Decisions which impact close and talented colleagues are always incredibly painful. Those whose roles are at risk of redundancy as a result of the proposals will be supported through the process.”

The announcement follows Sir James Dyson’s recent criticism of the former Conservative government’s economic policies. He accused the government of a “short-sighted” approach that hindered business growth, stating in The Telegraph that Dyson’s success was achieved “despite government, rather than because of it.”

Read more:
Dyson to cut nearly a third of its UK workforce

0
FacebookTwitterGoogle +Pinterest
previous post
Ticketmaster warns North American customers after major hack
next post
Softened abortion language in Trump-approved GOP platform irks some social conservatives

You may also like

Ex-NatWest chief breached Nigel Farage’s privacy, ICO rules

October 26, 2023

Dosen.io raises $2.3 million in oversubscribed round to...

April 9, 2025

Microsoft to Establish AI Hub in London, Led...

April 9, 2024

NatWest to Offer Quick Loans up to £250,000...

March 13, 2024

Retail sales rise 1.2% as households eat at...

March 24, 2023

Construction firms drive new hiring surge amid improving...

March 17, 2025

What SMEs need from the Government in the...

March 27, 2024

Elon Musk launches new long-form Twitter platform allowing...

April 14, 2023

The Alekszej Fedoricsev Case: Scrutiny Over Legal Proceedings...

February 20, 2025

Nearly a quarter of senior finance professionals fear...

September 18, 2023

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • National Wealth Fund commits £200m to UK battery storage push

      August 28, 2025
    • XRP price prediction hits new highs, GMO Miner helps you earn $6,800 a day

      August 28, 2025
    • West End retailers lose £310m from VAT-free shopping ban in first half of year

      August 28, 2025
    • Dollar slips as Trump moves to sack Fed governor Lisa Cook in unprecedented clash over central bank independence

      August 28, 2025
    • CDC Director Susan Monarez refuses to be fired as other officials call it quits

      August 28, 2025
    • Bill Gates met with Trump to talk ‘importance of US global health programs and health research’: spox

      August 28, 2025

    Categories

    • Business (8,901)
    • Investing (2,246)
    • Politics (16,503)
    • Stocks (3,228)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved