A new exclusive report from Reuters reveals that many Samsung Electronics employees may have to start looking for new jobs as up to 30% of the company’s overseas staff are set to be laid off by the end of the year. The information comes from three insiders directly connected to the matter who spoke about the plan that will impact Samsung staff currently working in the company’s offices in Europe, Asia, Africa and the Americas. Six other people familiar with the global staff restructuring, which is expected to be completed by the end of the year, confirmed this.
For now, many details are still missing, such as the total number of people who will lose their jobs, as well as the countries and units/departments most affected. However, two of the aforementioned insiders, who are close to the heart of the matter, mentioned that sales and marketing staff will be reduced by around 15% in some subsidiaries, while this figure will reach 30% in administrative sectors.
According to Samsung’s latest sustainability report, more than 147,000 of its 267,800 employees will be based overseas by the end of 2023. While manufacturing and development staff make up the majority of these jobs, there are also around 25,100 people working in sales and marketing, as well as 27,800 people “in other areas,” which therefore includes administrative positions. Based on the maximum percentages mentioned above and assuming that 15,000 administrative jobs are created, it can be estimated that a total of around 8,300 jobs will be lost by Samsung’s overseas employees by the end of 2024.
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