[News] Samsung Reportedly Set to Cut About 10% of Jobs in Southeast Asia, Australia, and New Zealand

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Samsung Electronics is reportedly carrying out layoffs in Southeast Asia, Australia, and New Zealand, which could impact less than 10% of its workforce in those regions, according to sources cited by Bloomberg. The scale of layoffs may vary across subsidiaries. The sources also indicated that job cuts are planned for other overseas subsidiaries, with the reduction possibly reaching up to 10% in some markets.

Samsung employs about 147,000 staff internationally, representing more than half of its total workforce of over 267,800, according to its latest sustainability report. Bloomberg noted that Samsung has no plans for layoffs in its home market of South Korea.

In the same report, another source cited by Bloomberg mentioned that employees in Singapore were called into private meetings on Tuesday with HR and managers to be informed about the retrenchment and severance packages.

A Samsung spokesperson told Bloomberg that some overseas subsidiaries are conducting routine workforce adjustments to improve operational efficiency, and the company has not set any specific targets for particular roles.

Bloomberg also highlighted that Samsung has historically adjusted its workforce in response to the cyclical nature of the memory chip market. Recently, the company cut about 10% of jobs in India and parts of Latin America.

In this latest round, Samsung is expected to reduce less than 10% of its overseas staff of 147,000, focusing cuts on management and support roles while aiming to preserve manufacturing jobs. The actual numbers will depend on local labor laws and financial considerations.

(Photo credit: Samsung)