Economy

Samsung plans mass layoffs — Reuters

Samsung

South Korean electronics manufacturer Samsung Electronics plans to cut up to 30% of its foreign workers in some divisions. About this write Reuters with reference to informed sources.

According to the agency, Samsung has instructed its subsidiaries around the world to cut sales and marketing staff by about 15% and administrative staff by up to 30%.

The plan will be implemented by the end of this year and will affect jobs in the Americas, Europe, Asia and Africa.

"It is currently unknown how many people will be laid off and which countries and business units will be most affected," — indicates the agency. 

Samsung said workforce adjustments at some overseas plants are routine work to improve efficiency.

At the same time, one of Reuters' sources reported that job cuts are taking place as part of preparations for a decrease in global demand for technological products in the context of a global economic slowdown.

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