Sony Pictures Entertainment’s UK division will remain intact and based in London, a spokesperson has confirmed to us, despite the multinational corporation moving its European HQ from London to the Netherlands to avoid disruption caused by Brexit.
Sony said this week the European HQ move would help it avoid customs issues related to Britain’s exit from the EU, which is due to happen on March 29 of this year. The electronics giant is not expected to move personnel or operations from existing UK divisions.
Sony’s film, TV and gaming teams in the UK comprise dozens of staff while hundreds are employed by the company across its portfolio.
This week, multiple major firms have signalled their intent to relocate aspects of their businesses in response to Brexit. On Tuesday appliance giant Dyson, whose founder James Dyson has been an ardent Brexit supporter, announced it was moving its HQ to Singapore.
Sony’s electronics rival Panasonic has already moved its HQ to Amsterdam, mostly because of tax issues potentially created by Brexit. Several Japanese firms, including banks, have said they plan to move their main EU bases out of London.
Today, Airbus CEO Tom Enders warned that the aerospace behemoth, which employs more than 14,000 people at 25 sites, was not guaranteed to remain in the UK should it crash out of the EU without a deal.
The UK parliament remains at loggerheads over how to exit the EU, with a ‘no deal’ scenario looming.