Samsung Electronics stated Wednesday it was planning to chop jobs in a few of its Asian operations after an earlier report that indicated one in 10 posts in affected markets could possibly be axed.
The world’s largest reminiscence chipmaker is modifying staffing ranges in Southeast Asia, Australia and New Zealand, an organization spokesperson instructed Agence France-Presse (AFP), including that “the adjustments include job cuts.”
The “routine workforce adjustments” are carried out “to improve operational efficiency,” stated Samsung Electronics in an announcement.
“The company has not set a target number for any particular positions,” added the maker of Galaxy smartphones.
Bloomberg reported, nevertheless, that the layoffs might have an effect on about 10% of the workforce in these markets.
The Suwon-based agency employs greater than 267,800 employees, with greater than half of its complete workforce overseas.
The cuts got here after U.S. chipmaker Intel introduced in August that it might slash greater than 15% of its workforce because it tries to streamline operations following a reported lack of $1.6 billion within the second quarter.
In distinction, Samsung noticed its quickest development since 2010, with working earnings hovering within the second quarter to 10.44 trillion received, as chip costs rebounded and demand for generative AI grew.
The determine represents a 1,462.29% improve from 670 billion received in the identical interval a yr earlier, exceeding market expectations.
The firm is the flagship subsidiary of South Korean big Samsung Group, by far the largest of the family-controlled conglomerates that dominate business in Asia’s fourth-largest financial system.
Source: www.dailysabah.com