Joining the ongoing trend of job cuts, Dyson – the UK-based home appliances manufacturer announced plans to reduce its UK workforce by approximately 1,000 positions, representing almost a third of its current UK employees. The layoffs are reportedly part of the company’s broader restructuring plans aimed at adapting to evolving market conditions and preparing for future growth.

The job cuts were communicated to employees on Tuesday, as reported by the Financial Times. Despite the layoffs, Dyson plans to retain its research and development hub in the UK to ensure that innovation remains a cornerstone of its operations. Engineers and researchers at the campus play a pivotal role in developing next-generation technologies that drive Dyson’s product lineup. The company employs 3,500 people in the UK and boasts a global workforce of around 14,000 as of the end of the previous year.

“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,” said Chief Executive Officer Hanno Kirner, who assumed his role earlier this year. “As such, we are proposing changes to our organisation, which may result in redundancies.”

According to reports, Dyson’s last submitted accounts, filed in October of the previous year, indicated a slight decline in pre-tax annual profits to £9.6 million for 2022, down from £10.2 million the year before. This dip was attributed to a decrease in the number of goods sold. The current restructuring and job cuts are part of an effort to streamline operations and boost profitability in an increasingly competitive market.

“Dyson operates in increasingly fierce and competitive global markets, in which the pace of innovation and change is only accelerating. We are proposing changes to our organisation, which may result in redundancies, to ensure we remain competitive and continue to lead in innovation,” said CEO Hanno Kirner in a statement.

Meanwhile, Dyson has joined the list of big companies cutting down their workforce as part of restructuring. So far, 360 tech companies have laid off 104,410 employees in 2024. These include companies like Google, Microsoft, Apple, and more, as economic uncertainties continue to impact the tech sector’s workforce.

In May, Google laid off nearly 200 employees from its core engineering teams in Sunnyvale, California, as part of Alphabet’s broader downsizing plan announced last year, targeting a 6 percent workforce reduction. In June, Microsoft cut over 1,000 jobs across various divisions, including its Azure cloud and mixed reality units, primarily within the Strategic Missions and Technologies organisation. Additionally, following its acquisition of Activision Blizzard, Microsoft eliminated 1,900 positions from its gaming division and has experienced several executive departures amid its restructuring efforts. In India specifically, companies including Flipkart, Paytm, and Swiggy also announced job cuts as part of restructuring.