South Korean tech giant Samsung is retrenching some staff from its Singapore office as part of its global layoffs.
According to Bloomberg, employees from various teams were called into private meetings with HR managers and their supervisors on Tuesday (1 Oct).
They were informed about the job cut and severance package details, said a person familiar with the situation.
Samsung’s layoffs in Southeast Asia, Australia, and New Zealand are part of its move to reduce its global headcount by thousands of jobs.
This could impact about 10% of the workforce in these regions, but the number of staff laid off may differ by subsidiary, said an anonymous source.
Speaking to Bloomberg, a Samsung spokesperson acknowledged that some of the company’s overseas subsidiaries are conducting “routine workforce adjustments” to improve operational efficiency.
The representative also said that Samsung has not “set a target number for any particular positions.”
Samsung employs about 147,000 employees overseas, accounting for over half of its total workforce.
Despite its global layoffs, Samsung reportedly has no plans for job cuts in South Korea.
Samsung shares have dropped more than 20% this year as it faced challenges in key markets.
It has fallen behind competitor SK Hynix Inc. in AI-related memory chips and made little progress against Taiwan Semiconductor Manufacturing Co. in producing custom-made chips for external clients.
MS News has reached out to Samsung Singapore for comments.
Also read: Dyson retrenches S’pore staff with 1 day’s notice to union, it expresses disappointment
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