Samsung plans global job cuts of up to 30% in some divisions

Samsung Electronics , the world’s top maker of smartphones, TVs and memory chips, is cutting up to 30% of its overseas staff at some divisions, three sources with direct knowledge of the matter told Reuters. Additionally, these Samsung Job Cuts are expected to impact various departments. #SamsungJobCuts

Samsung, based in South Korea, has directed its global subsidiaries to cut sales and marketing staff by about 15%. Additionally, the company has instructed reductions of up to 30% for administrative staff.

The plan will be implemented by the end of this year and would impact jobs across the Americas, Europe, Asia and Africa, one person said. Six other people familiar with the matter also confirmed Samsung’s planned global headcount reduction.

It is not clear how many people would be let go and which countries and business units would be most affected.

The sources declined to be named because the scope and details of the job cuts remained confidential.

In a statement, Samsung said workforce adjustments conducted at some overseas operations were routine, and aimed at improving efficiency. It said there are no specific targets for the plans, adding that they are not impacting its production staff.

As of the end of 2023, Samsung employed 267,800 people. More than half, or 147,000, of these employees are based overseas.

Manufacturing and development accounted for most of Samsung’s jobs, with around 25,100 in sales and marketing. Additionally, 27,800 people worked in other areas, according to the report.

The “global mandate” on job cuts was sent about three weeks ago, and Samsung’s India operation was already offering severance packages to some mid-level employees who have left in recent weeks, one of the direct sources said.

The Samsung Job Cuts may signal trends in workforce management within global tech firms. Consequently, other companies might follow suit.
read more