Samsung Electronics 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, Reuters reported Wednesday, citing sources with direct knowledge of the matter. From the report: South Korea-based Samsung has instructed subsidiaries worldwide to reduce sales and marketing staff by about 15% and the administrative staff by up to 30%, two of the sources said. 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.

[…] It is not clear how many people would be let go and which countries and business units would be most affected. In a statement, Samsung said workforce adjustments conducted at some overseas operations were routine, and aimed at improving efficiency. Samsung employed a total of 267,800 people as of the end of 2023, and more than half, or 147,000 employees, are based overseas, according to its latest sustainability report.