INSUBCONTINENT EXCLUSIVE:
According to reports the total employees who may need to leave the India unit could reach 1,000
| Photo: Reuters4 min read Last Updated Sep 11 2024 | 11:35 PM IST
Samsung Electronics, the world's top maker of smartphones, TVs and
memory chips, is cutting up to 30 per cent of its overseas staff at some divisions, three sources with direct knowledge of the matter told
jobs across the Americas, Europe, Asia and Africa, one person said
were routine, and aimed at improving efficiency
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
operation was already offering severance packages to some mid-level employees who have left in recent weeks, one of the direct sources
semiconductor division in a bid to overcome a "chip crisis" as it seeks to catch up with smaller rival SK Hynix in supplying high-end memory
China's Huawei, while it has long lagged behind TSMC in contract chip manufacturing
familiar with the plans said the job cuts were being made in preparation for a slowdown in global demand for technology products as the
was a politically sensitive issue
Conglomerate Samsung Group, of which the electronics giant is the crown jewel, is the country's biggest employer and plays a key role in
in Samsung Electronics, South Korea's most valuable stock, are trading at their lowest level in 16 months on Wednesday, as some analysts
cut their profit estimates for the company recently, citing a weak recovery in demand for smartphones and personal computers.(Only the
headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a
syndicated feed.)First Published: Sep 11 2024 | 11:35 PMIST
