Samsung Electronics is reportedly planning to lay off workers

Samsung Electronics is reportedly planning to lay off workers in Southeast Asia, Australia and New Zealand. As a result, many thousands of workers will face the risk of losing their jobs. In particular, it is said that one in 10 employees will lose their job!

It has been reported that Samsung Electronics is planning to lay off its employees in Asia. It is said that this will create an environment where one in 10 employees may lose their job. This decision has been taken to improve the efficiency of the company and streamline the staff hierarchy. Samsung has explained that there is no intention to fire so many employees.

Samsung is regularly reorganizing employees to improve its operational efficiency. “The company has not set a target regarding tenure for any specific posts,” he said. He also said the decision was made as Samsung shares have fallen more than 20% this year.

Samsung is likely to cut less than 10% of its total workforce of 147,000 as the company aims to protect manufacturing jobs while reducing management and support functions. Notably, Samsung abruptly changed the head of its chip business this year, and newly appointed president Jun Young-hyun said he needed to change the company’s workplace culture.