Home appliances maker Dyson will cut around 1,000 jobs in the UK as part of a global workforce review, reducing its UK workforce by more than a quarter.
The bold move comes less than a week after the left-wing Labour Party won the general election and appointed Chancellor Sir Keir Starmer as its leader.
The announcement from the company, best known for inventing the bagless vacuum cleaner, came on the day that new Industry and Trade Minister John Reynolds hosted a conference call with 170 business and industry leaders to set out priorities and answer questions.
of Guardian Reports The company notified employees about the job cuts on Tuesday morning as part of a wider cost-cutting effort to cut 15,000 jobs worldwide.
Dyson Chief Executive Hanno Kilner has promised to support staff affected by the cuts but said the company has little choice but to downsize.
Dyson operates in an increasingly fierce and competitive global marketplace, where the pace of innovation and change is accelerating – we know we need to be entrepreneurial and agile at all times.
We are growing rapidly and, like any company, we regularly review our global structure to prepare for the future.
He added that job cuts are “always incredibly painful”.
Dyson has indicated that the UK will remain a key base for its research and development operations, despite more of its management and work being relocated to Singapore since 2019.
The B.B.C. Reports The retailer is cutting 600 jobs in the UK and a further 300 globally, citing changes in the way people buy goods during the coronavirus pandemic.
Dyson was founded by inventor Sir James Dyson. The Sunday Times He is on the rich list with a personal fortune of £20.8 billion.
FILE/James Dyson arrives at the Royal Courts of Justice in London on Nov. 21, 2023. The billionaire vacuum cleaner tycoon filed a libel lawsuit Friday against the Daily Mirror newspaper over a column that suggested he was a hypocrite who “ruined” Britain by moving his company’s headquarters to Singapore after backing the pro-Brexit campaign. (AP/Alberto Pezzari, File)
The decision to restructure is understood to have been taken before a general election is held.
The billionaire has previously slammed the previous Conservative government’s approach to the UK economy and business as “foolish” and “short-sighted”.
He said growth had “become a dirty word” during Chancellor Rishi Sunak’s tenure.
