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“Dyson to Cut Nearly a Third of the British Workforce, Laying Off 1,000 Employees Amid Market Competition”

Dyson, the renowned technology company founded by Sir James Dyson, announced it will cut nearly a third of its British workforce, laying off approximately 1,000 of its 3,500 UK-based employees. This decision comes amidst fierce market competition and follows a global operational review initiated earlier this year, unrelated to the policies of the new Labour government.

Dyson’s chief executive, Hanno Kirner, described the layoffs as “painful” but necessary. This move follows the discontinuation of Dyson’s electric car project and the launch of its controversial Zone Absolute headphones, which have seen a significant price reduction from £819.99 to £579.99.

Despite a 10% drop in UK sales to £376 million in 2022, Dyson’s global sales increased from £6 billion to £6.5 billion, with revenues reaching £7.1 billion the following year. It is unclear if the job cuts will affect Dyson’s international operations, including its 2,000 employees in Singapore. The UK reductions will impact Dyson’s Malmesbury campus, which will continue as a major research site and home to the Dyson Institute.

Kirner emphasised the need for Dyson to remain agile in the face of increasing competition and rapid innovation. He expressed regret over the impact on employees, assuring support for those affected by the redundancies. This announcement follows Sir James Dyson’s recent criticism of the former Conservative government’s economic policies, which he claimed hindered business growth.

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