Two major companies announce plans to move headquarters from UK after Brexit 1 year ago

Two major companies announce plans to move headquarters from UK after Brexit

Another Brexit blow for the United Kingdom.

Two major companies, Sony and Dyson, have announced plans to relocate their headquarters to avoid problems accruing from Brexit.

As things stand, the United Kingdom looks set to exit the Euopean Union without a deal on 29 March. Such an eventuality would deeply complicate the import and export market, which has led several companies to consider their futures within the UK.

Japanese electronics giant Sony has announced its plans to move its headquarters from the UK to Amsterdam in order to remain in the EU. Similarly, Dyson — famous for their vacuum cleaners and hand-dryers — has confirmed its intention to move from its native UK to Singapore.

Somewhat ironically. James Dyson — the founder of Dyson — was a staunch Brexiteer who strongly advocated for a Leave vote. He has not given an explanation as to why he is moving his company, according to the Guardian.

Ferry company P&O will also be reflagging its ships, switching from the UK to Cyprus in order to retain EU tax benefits. Its ships have such ironic names as the Spirit of Britain, the Pride of Kent and the Pride of Canterbury.

Theresa May's withdrawal agreement was resoundingly defeated in the House of Commons last week, leaving both sides without a deal as the Brexit deadline hurtles closer.