Samsung to cull up to 30% of its global workforce: admin, sales and marketing by end of 2024

Samsung Electronics is cutting up to 30% of its overseas staff at some divisions: includes sales and marketing, and administrative staff.

Samsung to cull up to 30% of its global workforce: admin, sales and marketing by end of 2024
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Gaming Editor
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Samsung is reportedly culling 30% of its global employees in its sales operations, according to a South Korean newspaper.

Samsung to cull up to 30% of its global workforce: admin, sales and marketing by end of 2024 46

The South Korean electronics giant is struggling right now in multiple divisions: its semiconductor business can't keep up with TSMC, its HBM division can't beat SK hynix, and its smartphone sales aren't doing so well. Samsung replaced its semiconductor boss back in May, but we haven't seen much fruit from that tree so far.

Reuters' sources have said that one of their sources said that the job cuts at Samsung were being made in preparation for another slowdown in global demand for technology products as the global economy slows. Another source told Reuters that Samsung is "seeking to shore up its bottom line by saving costs".

One of the sources said that Samsung would "find it difficult" to lay off workers in South Korea because it was a "politically sensitive issue". Samsung is the biggest employer in South Korea, so you can see why the company is shying away from firing staffers in its home country, but up to 30% worldwide is a huge number.

Reuters did report that the job cuts at Samsung could "sit labour unrests" back in South Korea, with a South Korean workers' union at Samsung Electronics recently going on a multi-day strike, demanding higher pay and increased benefits.

Samsung launched its new Galaxy S24 family of smartphones earlier this year, including a refresh of both its foldable smartphones, yet it is struggling against Apple and Huawei. Apple just launched its new iPhone 16 family of handsets, and Huawei just launched the world's first tri-foldable smartphone with its new Mate XT Ultimate Design with 3+ million pre-orders generating $10.3 billion in sales for a single handset... meanwhile, Samsung is letting people go.

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NEWS SOURCE:reuters.com

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Anthony joined the TweakTown team in 2010 and has since reviewed 100s of graphics cards. Anthony is a long time PC enthusiast with a passion of hate for games built around consoles. FPS gaming since the pre-Quake days, where you were insulted if you used a mouse to aim, he has been addicted to gaming and hardware ever since. Working in IT retail for 10 years gave him great experience with custom-built PCs. His addiction to GPU tech is unwavering and has recently taken a keen interest in artificial intelligence (AI) hardware.

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