London-based smartphone maker Nothing has begun cutting jobs across its global business as it looks to rein in costs following years of rapid expansion, according to reports.
The hardware company, founded by OnePlus cofounder Carl Pei in 2020, has begun consulting with staff across multiple regions, with more than 100 of its roughly 800 employees potentially affected, according to people familiar with the matter cited by CityAM. The full scale of the cuts has yet to be determined.
Around 25 roles in Nothing's global marketing team are reportedly at risk, most of them in the UK. Product marketing, social media, creative, production and project management teams are among those affected, while some mobile and software product marketing work is expected to move to India.
The restructuring follows a period of rapid growth for the consumer electronics startup, which has raised more than $450m from investors including Tiger Global, GV and EQT. The company reached a $1.3bn valuation last year and has surpassed $1bn in cumulative revenue after shipping millions of smartphones, earbuds and other consumer devices.
Last December, Nothing launched a $5m crowdfunding campaign despite having raised $200m just months earlier. At the time, Pei told investors the company was aiming to be IPO-ready within three years, saying it was building the governance and financial discipline required of a public company while prioritising "sustainable growth".
Earlier this month, Nothing launched its latest handset, the Phone (4b), which retails for around £300.
A Nothing spokesperson confirmed the restructuring.
"We've shared with employees that we're restructuring parts of our global team to prepare for our next phase of growth," the company said. "We are introducing dedicated business units — including an AI-native business unit — and consolidating individual countries into regional hubs to operate much more efficiently."
The company added that consultation processes remain ongoing in some countries and described the changes as "a necessary step to position us to shape the next era of personal computing."
