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

Metro Bank fined £16.6m by FCA over money...

November 12, 2024

Stelios Awards for Disabled Entrepreneurs Now Accepting Applications...

May 9, 2024

Wrightbus secures £50 million UKEF financing to turbocharge...

June 9, 2023

UK house prices will not stop falling until...

October 25, 2023

Businesses urged to embrace automation over low-wage migrant...

November 28, 2024

NatWest launches £1 million competition to accelerate small...

April 1, 2025

Businesses scrambling to hire staff in heated job...

November 4, 2022

Victory for Innovative Bites Ltd as Judges Rule...

April 24, 2024

HMRC to appeal Gary Lineker IR35 case

June 26, 2023

Labour to ease building rules and challenge ‘nimbys’,...

July 8, 2024

    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

    • Trump warns of ‘serious consequences’ if Elon Musk funds Democrats

      June 7, 2025
    • Musk jokes about reconsidering stance on Big Beautiful Bill after Schiff’s praise

      June 7, 2025
    • Musk deletes explosive posts about Trump and Epstein files

      June 7, 2025
    • House witness flips script on Dem who ambushed him during hearing with unearthed tweet: ‘Iceberg is ahead’

      June 7, 2025
    • Call with China’s Xi, and Trump-Musk exchange fueled barbs during 20th week in office

      June 7, 2025
    • Trump’s conservative allies warn Congress faces critical ‘test’ with $9.4B spending cut proposal

      June 7, 2025

    Categories

    • Business (8,152)
    • Investing (2,019)
    • Politics (15,568)
    • Stocks (3,136)
    • 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