2024 may seem like a year of recovery after the pandemic but that's not quite the case. A few hours ago, Reuters reported that Samsung Electronics will be cutting up to 30% of its overseas staff across various divisions, according to three sources from the industry.
Among the three sources, two were told that Samsung has instructed subsidiaries overseas to cut off sales and marketing staff by 15% and up to 30% in administration. This will affect jobs in the United States of America, Europe, Asia and Africa. Although Malaysia is not confirmed, it is part of the Asia region nonetheless. Six other people who are familiar with the situation also confirmed to Reuters.
At the end of 2023, Samsung has employed 267,800 staff, and 147,000 of them are based overseas, according to its latest sustainability report. Samsung said that it would be adjusting the workforce because some operations overseas are quite routine and it wanted to improve efficiency. That said, the layoff will not impact its production staff who are key to Samsung's wide array of products.
Over in India, the company sent a memo about three weeks ago and offered severance packages to a few mid-level employees who have already left. Meanwhile, Samsung staff in China were also notified and is expected to cut 30% in sales operations.
More details of the layoff by Samsung can be read in Reuter's news post here. As for the employees at Samsung Malaysia, we have no confirmation but we think it's good to be prepared.
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