Dyson exits UK as Brexit sucks
Now Brexit-backing British entrepreneur James Dyson is moving his vacuum cleaner and hair dryer tech company to Singapore. The move follows the announcement in October that Dyson will manufacture his new electric cars in Singapore rather than in the UK.
Somehow, that latter decision was “good news” for the company’s British workforce, according to Dyson.
The firm’s management maintains that the double Singapore whammy has nothing to do with Brexit. In fact, it’s about “future-proofing” the business. Luckily, Dyson doesn’t need to worry about any No-Deal scenario in the city state because Singapore just recently concluded a new trade deal with the EU.
The company seems pretty keen to ditch ties with the UK. Chief executive Jim Rowan says he would rather that Dyson be referred to as a “global technology company” than as a British tech story.
Dyson reported record profits of £1.1bn last year.