Samsung Electronics is undergoing significant workforce reductions in its overseas subsidiaries in Southeast Asia and Australia, Bloomberg reported on Oct. 1 (local time), citing anonymous sources. The tech giant plans to cut approximately 10% of its workforce in these regions as part of a broader strategy to enhance operational efficiency.
According to Bloomberg, employees from various departments in Samsung Electronics' Singapore office were informed of the workforce reduction plan in a private meeting with HR personnel and managers on the same day.
This move follows similar reductions in other regions. Bloomberg reported that Samsung Electronics has already reduced its workforce by 10% in some areas of India and South America. Additionally, there is a possibility of workforce reductions affecting less than 10% of Samsung Electronics' total overseas workforce of approximately 147,000.
In response to the reports, Samsung Electronics explained, "We are conducting routine workforce adjustments in some overseas subsidiaries to improve operational efficiency," adding, "We have not set specific targets for particular positions."
The 2024 Samsung Electronics Sustainability Report reveals that the company employs a total of 267,860 people, with 147,104 working overseas and 120,756 in South Korea. Regionally, the overseas workforce is distributed as follows: Asia 100,938, North and South America 27,882, Europe 12,001, CIS 1,611, and Middle East and Africa 4,672.
Samsung Electronics, headquartered in South Korea, is one of the largest and most influential technology companies globally. It is a key player in various sectors, including consumer electronics, semiconductors, and telecommunications equipment. The company’s decision to reduce its workforce in Southeast Asia and Australia may be influenced by several factors, including the current economic climate in these regions, market demand, and employment trends.
As of now, the current status of the workforce reduction plan is ongoing, with further developments expected as Samsung continues to implement its strategy.
