Nothing, the Kings Cross-based smartphone company founded by Carl Pei, has begun laying off staff across its global workforce as part of a cost-cutting drive.
The company, which employs around 800 people worldwide, has started consultations with staff across multiple regions and has already let some employees go, sources familiar with the matter said.
More than 100 roles across Nothing’s global business could be affected by the cuts, though the full scale of the layoffs remains undetermined as consultations continue.
Around 25 jobs are understood to be at risk within Nothing’s global marketing team, with the majority of those positions based in the UK.
Teams spanning product marketing, social media, creative, production and project management are among those affected by the restructuring.
Some mobile and software product marketing work is also expected to be relocated to India as part of the reorganisation.
Nothing also made layoffs earlier this year at its Shenzhen operation, primarily across sales and marketing teams, though the number of roles affected could not be immediately determined.
The company informed employees it is restructuring its global workforce, citing the need to streamline operations for its next phase of growth.
Nothing has grown rapidly since launching in London in 2020, attracting investment from backers including Tiger Global and musician Charli XCX, who also serves as the company’s global brand ambassador.
The company was valued at $1.3bn in 2025 and surpassed $1bn in cumulative revenue last year, representing a 150 per cent increase on the prior year.
Despite that impressive financial trajectory, Nothing has been grappling with a swelling cost base following a period of rapid headcount expansion across its global teams.
Sources told City AM that the UK-based global marketing function has been hardest hit, having grown sharply over the past year, with cuts appearing designed to bring the team back towards its previous size.
Paid media and CRM teams have largely avoided the restructure after recent departures already reduced headcount in those areas, according to one person familiar with the matter.
The restructuring comes weeks after it emerged that Nothing’s accounts remained overdue despite the company avoiding compulsory strike-off by Companies House, which discontinued proceedings after Nothing showed cause to remain on the register.
Accounts for the year ending 31 December 2024 are yet to be filed, raising further questions about the company’s financial transparency as it navigates a critical phase of growth.
Nothing this month launched its latest Phone (4b) model, which retails for around £300, and has recently expanded into Best Buy stores across the United States.
The company has also opened a flagship store in Bengaluru and launched several new smartphones and audio products in recent months.
Nothing declined to comment on the redundancies.