Samsung Electronics to Lay Off Thousands Globally

TapTechNews October 2nd news, Bloomberg reported that Samsung Electronics is laying off thousands of people globally, including regions such as Southeast Asia, Australia, and New Zealand.

Insiders said that this round of layoffs may affect about 10% of the employees in these markets, but the specific numbers for each subsidiary may vary. In addition, other overseas subsidiaries of Samsung also plan to lay off staff, and the number of layoffs in some markets may account for 10%. Another insider revealed that Samsung has also recently cut about 10% of positions in India and some Latin American regions.

TapTechNews noted that Samsung's latest sustainability report shows that this Korean company currently has approximately 147,000 employees outside its domestic market, accounting for more than half of its total number of more than 267,800 employees.

Another insider said that employees of different teams in Samsung Singapore were convened on Tuesday (October 1) and had private talks with HR and their reporting leaders, and then were informed of the details of the layoff and severance package.

Some overseas subsidiaries are conducting regular labor force adjustments to improve operational efficiency, a Samsung spokesman said. The company has not set a target number for any specific position.