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Dyson, headquartered in Singapore, to Cut 1,000 Jobs in Britain

ByYasmeeta Oon

Jul 11, 2024

Dyson, headquartered in Singapore, to Cut 1,000 Jobs in Britain

SINGAPORE – Dyson, the multinational technology company headquartered in Singapore, announced on July 9 that it would lay off approximately 1,000 of its 3,500 staff in Britain as part of a global restructuring plan. This significant workforce reduction comes as the company, which employs around 14,000 people worldwide, seeks to streamline operations and prepare for future challenges.

When queried about the impact on its nearly 2,000 employees in Singapore, Dyson confirmed that there would be no direct consequences from the current announcement for its Singapore-based staff. However, the company declined to provide additional comments regarding the specifics of the situation.

Sources indicate that due to legal constraints in Britain surrounding retrenchment processes, Dyson is currently unable to disclose further details about the restructuring efforts.

In a statement released on July 9, Dyson’s chief executive, Hanno Kirner, elaborated on the necessity of the organizational changes. “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,” Kirner stated. “As such, we are proposing changes to our organization, which may result in redundancies.” He emphasized the importance of maintaining an entrepreneurial and agile approach, principles that have long been integral to Dyson’s operations.

Despite the impending layoffs, Dyson reported positive financial performance earlier this year. In February, the company announced a 9 percent increase in global revenue, reaching £7.1 billion (S$12.3 billion) in 2023. Additionally, its earnings before interest, tax, depreciation, and amortization (Ebitda) – a key measure of profitability – rose to £1.4 billion.

Dyson relocated its headquarters to Singapore in 2019, marking a strategic move to expand its operations on the island. In 2020 and 2022, the company indicated plans to hire 250 technical and scientific experts in Singapore. Since then, the number of engineers and scientists in Singapore has grown substantially, now accounting for nearly half of the company’s local workforce.

Singapore plays a pivotal role in Dyson’s global research and development network, serving as a critical hub for the development of new products. In May 2023, Dyson announced its most significant investment in advanced manufacturing to date, commencing construction on a new 247,000 square-foot facility in Tuas. This state-of-the-art factory will produce next-generation batteries to power Dyson’s future products and is expected to be fully operational by 2025.

Addressing the layoffs, Mr. Kirner expressed deep regret for the impact on affected employees. “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,” he said.

Dyson’s Expansion Plans in Singapore

  • Relocation of headquarters to Singapore in 2019.
  • Plans to hire 250 technical and scientific experts in 2020 and 2022.
  • Significant investment in advanced manufacturing in 2023.
  • New 247,000 sq ft facility in Tuas to be fully operational by 2025.
Metric2023 Figures
Global Revenue£7.1 billion (S$12.3 billion)
Earnings Before Interest, Tax, Depreciation, and Amortization (Ebitda)£1.4 billion

The global restructuring initiative by Dyson is a response to rapid growth and the need to optimize the company’s operational structures. While the reduction of 1,000 jobs in Britain represents a significant shift, Dyson’s continued investment and expansion in Singapore highlight its commitment to innovation and development. The advanced manufacturing facility in Tuas is a testament to Dyson’s forward-looking strategy, poised to enhance its production capabilities and support future product lines.

Since its inception, Dyson has been known for its innovative products and commitment to research and development. The decision to move its headquarters to Singapore in 2019 was driven by the strategic benefits of being closer to its rapidly growing markets in Asia. This move has allowed Dyson to leverage Singapore’s robust infrastructure, skilled workforce, and favorable business environment.

The company’s focus on hiring technical and scientific experts in Singapore aligns with its broader vision of being at the forefront of technological advancements. The new facility in Tuas, designed to manufacture next-generation batteries, represents a significant milestone in Dyson’s journey. This facility will not only boost the company’s production capabilities but also solidify Singapore’s position as a key node in Dyson’s global operations.

Dyson’s commitment to supporting employees affected by the restructuring proves its recognition of their contributions. The company has assured that it will provide necessary support to those impacted by the layoffs, ensuring a fair and compassionate transition.

Dyson remains focused on maintaining its entrepreneurial spirit and agility. The company’s strategic investments and restructuring efforts are aimed at positioning it for sustained growth and innovation. As Dyson continues to navigate the evolving technological landscape, its emphasis on research and development, coupled with strategic expansions, will be crucial in driving its future success.

While Dyson’s announcement of significant layoffs in Britain marks a challenging period, the company’s ongoing expansion and investment in Singapore demonstrate its resilience and forward-thinking approach. With a strong emphasis on innovation and strategic growth, Dyson is poised to continue its legacy of technological excellence and global impact.

Dyson’s restructuring and layoffs are a reflection of the company’s efforts to align its operations with future demands and challenges. The significant expansion in Singapore, including the new advanced manufacturing facility, highlights Dyson’s commitment to innovation and development. Despite the difficult decisions surrounding the layoffs, Dyson’s strategic moves position it for continued success and growth in the global market. As the company navigates these changes, its focus on maintaining an entrepreneurial and agile approach will be key to its sustained progress.

Featured Image courtesy of The Malaysian Reserve

Yasmeeta Oon

Just a girl trying to break into the world of journalism, constantly on the hunt for the next big story to share.

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