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

Netflix to launch cheaper ad-supported subscription tier in...

September 5, 2022

Winner of The Apprentice unveils first venture with...

January 13, 2025

Secrets of Success: Insights from Camilla Hadcock, Director...

August 8, 2024

Artificial Intelligence for Everyday Business

January 15, 2025

Path of Exile 2: Revolutionizing ARPG

January 3, 2025

Getting to Know You: James Villarreal, Co-Founder of...

August 11, 2024

Electric vans reenergise Ellesmere Port factory

September 8, 2023

Night Time sector calls for VAT cut to...

May 1, 2023

Pub insolvencies jump 83 per cent as rising...

February 13, 2023

Office attendance surges as hybrid and more localised...

February 28, 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

    • TSA tells Americans their Costco cards won’t fly at airport security despite love for hot dogs

      June 7, 2025
    • Trump announces China will restart rare earth mineral shipments to US after productive call

      June 7, 2025
    • Musk feud presents ‘unprecedented’ dynamic compared to past Trump disputes: expert

      June 7, 2025
    • Snub of Musk’s NASA nominee ally preceded sudden ‘big, beautiful bill’ criticism, Trump feud

      June 6, 2025
    • Supreme Court rules DOGE can access Social Security information

      June 6, 2025
    • US sanctions money laundering network aiding Iran as regime faces nuclear reprimand at IAEA

      June 6, 2025

    Categories

    • Business (8,149)
    • Investing (2,019)
    • Politics (15,558)
    • Stocks (3,134)
    • 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