Samsung is reportedly cutting 15% of its sales and marketing and 30% of its admin staff at its overseas subsidiaries
Several inside sources shared with Reuters this week that Samsung Electronics is cutting 15% of its sales and marketing and 30% of its administrative staff at its overseas subsidiaries. The cuts, expected to come by the end of the year, are aimed at employees in the Americas, Europe, Asia and Africa.
A 2023 sustainability report reveals that Samsung has operations in 76 countries and 267,860 employees. Of these, 147,000 people are stationed at its overseas operations, and of those staff, 25,100 were in sales and marketing roles. One source claimed that the company has already offered mid-level employees in India severance packages. Some, the source continued, have already departed.
Although it’s no secret that Samsung is under some kind of market stress as it strives to keep up with competition in both its semiconductor and smartphone units, the company told Reuters that such “workforce adjustments” at overseas operations are routine, and that efficiency was the goal. It noted further that production staff will not be impacted and that there are no specific targets for the plans.
In other news, Bloomberg reported last month that Samsung is emerging as a potential buyer of Nokia’s mobile networks business. However, Nokia has referred to this development as a “market rumor” and “has nothing to announce in relation to the speculations.” It remains to be seen if these rumors carry any weight and if they do, what that might mean for Samsung’s future strategy.
