Samsung Elec plans global job cuts of up to 30% in some divisions, sources say

Samsung Electronics is cutting up to 30% of its overseas staff to improve efficiency and save costs.

Samsung Electronics , the world's top maker of smartphones, TVs and memory chips, is cutting up to 30% of its overseas staff at some divisions, three sources with direct knowledge of the matter told Reuters.

South Korea-based Samsung has instructed subsidiaries worldwide to reduce sales and marketing staff by about 15% and the administrative staff by up to 30%, two of the sources said.

The plan will be implemented by the end of this year and would impact jobs across the Americas, Europe, Asia and Africa, one person said. Six other people familiar with the matter also confirmed Samsung's planned global headcount reduction.

It is not clear how many people would be let go and which countries and business units would be most affected.

The sources declined to be named because the scope and details of the job cuts remained confidential.

In a statement, Samsung said workforce adjustments conducted at some overseas operations were routine, and aimed at improving efficiency. It said there are no specific targets for the plans, adding that they are not impacting its production staff.

Samsung employed a total of 267,800 people as of the end of 2023, and more than half, or 147,000 employees, are based overseas, according to its latest sustainability report.