Dyson is expected to slash about 1,000 jobs in the UK, preparing to scale-down its headcount to the extent of over a quarter. The idea of cost-cutting began with Dyson’s headquarters moving to Singapore last year and continues with its need to reposition for the future.

Famous vacuum cleaner brand Dyson is now set to axe off up to 1,000 jobs from the UK. The company claims that this needs to be done for cost reduction. In 2019, it moved its HQ to Singapore. This is a reduction of over one-quarter of the workforce from the United Kingdom.

Sir James Dyson launched the company in 1991, which has 3,500 UK employees, operating from offices in Wiltshire, Bristol, and London. News of the job cuts was broken to staff on Tuesday morning.

According to Dyson chief executive officer Hanno Kirner, the cuts are happening as the company rethinks its global structure and prepares itself for the future. In other words, changing the way of its conduct globally.

Latest Dyson accounts, filed in October, show the company posted pre-tax profit of £9.6 million in 2022, down from £10.2 million in the prior year, attributed to lower products’ sales.

Last year, Sir James Dyson was widely criticized when he moved Dyson’s head office out of Wiltshire and into Singapore. Many thought him hypocritical, for he had supported Brexit, then moved his company’s base to Asia. Sir James said at the time that it wasn’t because of Brexit. He said it made sense for the business since a majority of Dyson’s future customers would be in Asia.

Dyson announced last year it was planning to build a large battery plant in Singapore which it said would be operational by 2025. Its officials said the plant was its most significant investment in advanced manufacturing to date. This week, it also announced its intention to set up a technology centre in the Philippines where it will hire 400 more engineers. It will also create a new research and development hub in Bristol at a cost of £100m.

The UK government has been given a scalded dressing down on its treatment of the economy by one of Britain’s richest men, with a mammoth fortune of £2.2 billion. Sir James Dyson accused ex-Prime Minister Rishi Sunak and ex-Chancellor Jeremy Hunt of being too cautious over growing the economy back in December. He said their predecessors in those two trading roles, Liz Truss and Kwasi Kwarteng, were the right team.

Sir James stated he never believed that making money and growing the economy is a bad thing. A bit of inflation doesn’t hurt if there’s growth. He said if a government emphasizes lowering the rate of inflation while ignoring growth, it could be to its own detriment.

Conclusion Dyson is under massive alteration for the purposes of saving money and setting up for the future. Its actions will mean many people lose their jobs around the UK, but the company is putting money into new projects and growing in other regions of the world.