Samsung Layoffs: Tech Giant To Fire Thousands Of Employees In THESE Regions

Samsung Layoffs: The report indicates that job cuts are also planned for other international branches, with similar reductions potentially reaching 10 per cent in specific markets

Samsung Layoffs: Tech firm Samsung is reportedly implementing significant layoffs in Southeast Asia, Australia, and New Zealand as it cuts its global headcount by thousands of positions. According to a Bloomberg report citing sources, these layoffs may impact approximately 10 per cent of employees in these regions, with variations expected among its subsidiaries. 

Additionally, the report indicates that job cuts are also planned for other international branches, with similar reductions potentially reaching 10 per cent in specific markets.

Samsung employs approximately 147,000 staff abroad, accounting for more than half of its workforce of over 267,800. However, the report indicates that the South Korean company does not intend to implement layoffs in its home market.

The report reveals that employees from various teams at Samsung in Singapore were summoned to private meetings with HR managers and their direct supervisors, where they were informed about the layoffs and the specifics of the severance packages being offered.

“Some overseas subsidiaries are conducting routine workforce adjustments to improve operational efficiency. The company has not set a target number for any particular positions," a Samsung spokesperson said, as per the report.

This development follows a more than 20 per cent decline in Samsung's shares this year, as the world's largest manufacturer of memory chips and smartphones faces ongoing challenges.

Historically, Samsung has reduced its workforce, recently cutting about 10 per cent of its jobs in India and certain regions of Latin America. In this latest round of layoffs, the company is expected to reduce its total overseas workforce of 147,000 by less than 10 per cent. The focus of these cuts will likely be on management and support roles, while efforts will be made to preserve manufacturing jobs.

Samsung has been involved in conflicts with its employees in South Korea, where the tech giant’s unions organised the company’s first-ever strike in May. In India, over 1,000 workers have also disrupted production and staged protests in a makeshift tent near the Chennai factory since September 9, demanding higher wages and recognition of their union.