Struggling UK appliance brand Dyson who have a ‘love hate’ relationship with retailers has slashed over a third of their workforce with over 1,000 jobs cut in the UK.
The business that a few moved their head office to Singapore a tax haven generates more than half of their sales in Asia Pacific is set to slash jobs locally according to sources.
The Company’s products are ‘Reluctantly’ ranged by retailers in Australia a major retailer recently, said after the Company, that also failed in the electric car market moved to sell direct, open their own stores, while trying to make demands on retailers stocking their products that are seen as being “overpriced’ compared to other products in the market.
“The only good thing is that it is a brand that brings customers into the store” they said.
The company has 3,500 employees in the UK and reported 14,000 globally as of the end of last year.
CEO Hanno Kirner said the company needed to be more “entrepreneurial and agile”.
“Decisions which impact close and talented colleagues are always incredibly painful,” he said.
Dyson informed workers last night of their decision, what’s not known is how much revenues have slipped in Asia Pacific their biggest market.
According to retailers the business competes against local rivals that often produce similar-looking products that perform equally as well but are significantly cheaper.
“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,” said Kirner, claims.
“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,” he added, saying cutting jobs was “always incredibly painful”.
Dyson was founded in the UK by billionaire James Dyson, who chose to move to Singapore a tax haven while at the same time critising the UK Government.
In an effort to be competitive the Company has also expanded into other household items such as air purifiers, air dryers and hand driers.
Founder Dyson announced plans to move the company’s headquarters from the UK to Singapore in 2019.
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