LONDON (CelebrityAccess) — Sony announced plans to relocate the European headquarters of its consumer electronics business from London to the Netherlands in order to avoid Brexit fallout.
According to the BBC, Sony said the move was prompted by concerns over customs issues if the UK leaves the European Union without a trade deal in place.
However, despite the plan to move its official headquarters, the tech giant won’t move personnel and operations from its existing facilities in the UK.
In a statement, Sony said the relocation would mean the company “can continue our business as usual without disruption once the UK leaves the EU. All our existing European business functions, facilities, departments, sites and location of our people will remain unchanged from today.”
Citizens of the United Kingdom voted in a referendum 2016 to leave the European Union on March 30th, 2019. However, in the intervening years, the UK government, led by Conservative Prime Minister Theresa May has been unable to secure a post-exit trade agreement with the remaining countries in the E.U, creating substantial uncertainty about the post-exit landscape.
Earlier this month, the Parliment voted against May’s most recent bid for a deal in what was the most lopsided vote by the legislative body in the nation’s history.
Sony joins a list of companies in recent months that have relocated their headquarters from the UK including Panasonic as well as home appliance company Dyson, led by Billionaire James Dyson, a vocal supporter of Brexit.