Bloomberg reported that the layoffs may have an effect on about 10% of the workforce in these markets. [File]
| Photograph credit score: Reuters
Samsung Electronics mentioned on Wednesday it deliberate to chop jobs at a few of its Asian operations, following a report that one in ten positions in affected markets may very well be minimize.
The world’s largest reminiscence chip maker is altering its workforce in Southeast Asia, Australia and New Zealand, an organization spokesperson informed AFP, including that “the changes embrace job cuts.”
“Routine workforce changes” are being carried out “to enhance operational effectivity,” Samsung Electronics mentioned in an announcement.
“The corporate has not set a goal quantity for any particular place,” the Galaxy smartphone maker added.
Bloomberg reported that the layoffs may have an effect on about 10% of the workforce in these markets.
The Suwon-based firm employs greater than 267,800 staff, with greater than half of its complete workforce situated overseas.
The cuts got here after US chipmaker Intel introduced in August that it will minimize greater than 15% of its workforce because it tries to streamline operations following a reported $1.6 billion loss within the second quarter.
Against this, Samsung noticed its quickest development since 2010, with working earnings hovering within the second quarter to 10.44 trillion gained, as chip costs recovered and demand for generative AI continued to develop.
The determine represents a rise of 1,462.29% from 670 billion gained in the identical interval final yr, exceeding market expectations.
The corporate is the flagship subsidiary of South Korean big Samsung Group, by far the biggest family-owned conglomerate that dominates enterprise in Asia’s fourth-largest financial system.
Printed – October 4, 2024 09:59 am IST
