Seoul, September 11 (FinanceFlashNews.com) – South Korean tech giant Samsung Electronics, the world’s leading manufacturer of smartphones, televisions, and memory chips, is preparing to lay off up to 30% of employees in some of its overseas divisions, according to three sources familiar with the matter. The move comes amid growing pressure on the company’s core divisions, Reuters reported.
Global Workforce Reduction
Two of the sources indicated that Samsung has directed its subsidiaries worldwide to reduce staff in sales and marketing by approximately 15%, and administrative positions by up to 30%. The plan is expected to be implemented by the end of the year and will affect jobs in the Americas, Europe, Asia, and Africa, one source confirmed.
Impact on Global Operations
While the exact number of layoffs and the specific countries or facilities impacted are still unclear, six additional sources confirmed the planned workforce reduction. As of the end of 2023, Samsung employed 267,800 people globally, with more than half of its workforce – 147,000 employees – located overseas. Sales and marketing divisions accounted for around 25,100 employees, and 27,800 workers were involved in other roles.
Facing Global Market Challenges
Samsung is grappling with increasing pressure across its key divisions. In the premium smartphone market, the company faces stiff competition from Apple and China’s Huawei. In chip manufacturing, it continues to lag behind Taiwan’s TSMC, while in India, the company’s production is disrupted by wage strikes. One source noted that the layoffs are part of Samsung’s preparation for a slowdown in global demand for tech products as the world economy loses momentum.
Key Figures for Samsung’s Workforce as of 2023
| Workforce Category | Number of Employees |
|---|---|
| Total Global Workforce | 267,800 |
| Overseas Workforce | 147,000 |
| Sales and Marketing Employees | 25,100 |
| Administrative Employees | 27,800 |
Keywords: Samsung Electronics, layoffs, global workforce, tech industry, smartphone competition, chip manufacturing, economic slowdown
