London-based smartphone maker Nothing has begun cutting jobs across its global business to rein in costs after rapid expansion. The hardware company, founded by OnePlus cofounder Carl Pei in 2020, is consulting with staff across multiple regions, with more than 100 of its roughly 800 employees potentially affected, according to City AM.

Around 25 roles in Nothing's global marketing team are at risk, mostly in the UK, with some mobile and software product marketing work moving to India. The restructuring follows rapid growth: the startup has raised more than $450m from investors including Tiger Global, GV and EQT, reached a $1.3bn valuation, and surpassed $1bn in cumulative revenue after shipping millions of devices.

Earlier this month, Nothing launched its latest handset, the Phone (4b), retailing around £300. A spokesperson confirmed the restructuring, stating the company is introducing dedicated business units — including an AI-native business unit — and consolidating countries into regional hubs to operate more efficiently, calling it "a necessary step to position us to shape the next era of personal computing."