News & Analysis

Dyson announces plans to cut 1000 jobs

10th July 2024
Caitlin Gittins

Dyson's announcement that it will be axeing 1,000 jobs – making up nearly one third of its workforce – has been met with concern and frustration.

In a statement provided citing their reasons for cutting jobs, CEO Hanno 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. As such, we are proposing changes to our organisation, which may result in redundancies."

Kirner added that the competitiveness of the global markets in which Dyson operates, where "the pace of innovation and change is only accelerating," required an "entrepreneurial and agile" approach. "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."

Founder of Dyson, Sir James Dyson, has been particularly outspoken against the UK's economic policies, which he has previously named "stupid" and "short sighted", citing high corporation tax and claiming that it will drive companies overseas and invest elsewhere.

Previous PM Liz Truss attempted to stop a rise in corporation tax from 19% to 25%, plans which were scrapped after unfunded tax cuts panicked markets. The Labour party, now in power in the UK, have said they will cap corporation tax at 25%, its current rate.

Dyson was founded in 1991 with a current workforce of 3500 employees across the UK in London, Bristol and Wiltshire. The company is perhaps best knwon for its vacuum cleaners, hairdryers, hand dryers, humidifiers, and lights. The Sunday Times Rich List 2024 named Sir James Dyson and his family as the fifth richest, with a value of £2.2 billion.Dy

Responses to the job cuts can be characterised by a mix of concern and dismay. Reported by the BBC, Richard Clewer, Wiltshire Council leader, told BBC Radio Wiltshire of his frustration over a lack of notice about Dyson's plans to axe jobs. "It would have helped us even to have had a few hours notice," he said, adding that notice would have allowed the council, "get staff pulled together, to be able to deal with this front foot rather than having to rush to catch up."

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