Dyson is cutting about 1,000 jobs in the UK, over a quarter of its local workforce, as part of a larger global staff reduction, according to newspaper reports.
Employees were informed on Tuesday of the cuts, which will impact the company’s global workforce.
The Financial Times portrayed the news as a blow to the new Labour administration with the layoffs. Certainly, the timing doesn't look ideal with business secretary Jonathan Reynolds preparing to outline his priorities to the UK's leaders of commerce and industry.
Sky News said it understood that the decision was not linked to the UK general election, as the process had begun beforehand.
Dyson’s largest market is in Asia, where it faces stiff competition from local rivals. CEO Hanno Kirner recently emphasised the need for agility and innovation in competitive markets.
The company employs 15,000 worldwide and 3,500 people in the UK. The cuts will affect various departments, including management, the paper said.