Dyson to cut 1,000 jobs in the U.K.
CBSN
Dyson is planning to lay off 1,000 workers in the U.K., the home appliance maker told employees on Tuesday.
Best known for its high-end vacuum cleaners, fans and other appliances, Dyson announced the cuts as it faces growing competition, including from manufacturers that release copycat designs in Asia, the company's largest market.
In a statement to CBS MoneyWatch, Dyson CEO Hanno Kirner cited increased competition as a reason for the layoffs. "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 said. "As such, we are proposing changes to our organization, which may result in redundancies."
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