British appliance maker Dyson has joined the list of technology companies that are reducing their workforce. According to a report by The Financial Times, Dyson is cutting 1,000 jobs. This is the second time in four years when Dyson has cut jobs.
According to the report, Hanno Kirner, CEO, Dyson, said that the company was operating in an increasingly fierce and competitive global markets and had expanded quickly. As per Kirner, Dyson needed to become “entrepreneurial and agile.”
Dyson, which is headquartered in Singapore, has close to 15,000 employees. Back in 2020, Dyson had laid off close to 900 people and had cited the Covid-19 pandemic as the main reason.
The company had shown an increase in revenue in the last 12 months. In 2023, Dyson’s revenue was up to $9.1 billion from $8.3 billion in 2022. Dyson is known for its vacuum cleaners, hair dryers and other home appliances.
Layoffs continue to impact tech industry
The tech industry continues to struggle with job cuts in 2024. According to Layoffs.fyi, a tracker website, more than 1,04,000 employees have been laid across 360 companies in the world. Big names such as Microsoft and Google have also been part of the companies that have laid off thousands of employees.
Economic uncertainty is a major factor, pressuring companies to streamline operations. Restructuring after acquisitions and project closures are also contributing reasons. The other big reason had been ‘overhiring’ during the pandemic years. Many companies like Amazon, Google, and Microsoft had hired a lot more people from 2020-2022.
The impact is felt globally, however, US has seen the maximum number of layoffs.
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