According to sources familiar with the situation, Bloomberg reported that Samsung is laying off employees in Australia, New Zealand, and Southeast Asia as part of a global headcount reduction of thousands of jobs. According to the report, the numbers for each subsidiary may vary, and the layoffs may affect approximately 10% of the workforce in those markets. It claimed that job cuts are being planned for other overseas subsidiaries and could reach 10% in some markets.
Samsung To Lay Off More Than 1.5 Lakh Staff
Samsung has about 147,000 staff overseas, more than half of its total employees of more than 267,800. But the South Korean company is not planning layoffs in its home market, the report said.
Will Hold Private Meeting With Laid Off Staff
It added that Samsung employees from various teams in Singapore were invited to private meetings with HR managers and their reporting managers to learn about the layoffs and severance packages.
“In order to increase operational effectiveness, some overseas subsidiaries are making routine adjustments to their workforce. A Samsung spokesperson stated, “The company has not established a target number for any particular positions.”
Why Samsung Has a Difficult Year
This comes as the world’s largest smartphone and memory chip manufacturer struggles and company shares have dropped more than 20% this year.
It was reported that Samsung recently cut about 10% of jobs in India and some parts of Latin America. The company has also reduced the size of its workforce in the past. In the most recent push, Company will likely reduce its overseas workforce by less than 10 percent. The company wants to keep manufacturing jobs while cutting management and support positions.
Samsung Employees In India Vs South Korea
In India, more than 1,000 workers have disrupted production and protested in a makeshift tent close to the Chennai factory since September 9, demanding higher wages and union recognition. In South Korea, the largest of the tech giant’s various unions called the company’s first strike ever in May.
