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Samsung Electronics Plans Global Job Cuts of Up To 30% in Some Divisions (reuters.com) 32

Posted by msmash from the job-cuts dept.
Samsung Electronics, the world's top maker of smartphones, TVs and memory chips, is cutting up to 30% of its overseas staff at some divisions, Reuters reported Wednesday, citing sources with direct knowledge of the matter. From the report: South Korea-based Samsung has instructed subsidiaries worldwide to reduce sales and marketing staff by about 15% and the administrative staff by up to 30%, two of the sources said. The plan will be implemented by the end of this year and would impact jobs across the Americas, Europe, Asia and Africa, one person said.

[...] It is not clear how many people would be let go and which countries and business units would be most affected. In a statement, Samsung said workforce adjustments conducted at some overseas operations were routine, and aimed at improving efficiency. Samsung employed a total of 267,800 people as of the end of 2023, and more than half, or 147,000 employees, are based overseas, according to its latest sustainability report.

Samsung Electronics Plans Global Job Cuts of Up To 30% in Some Divisions More | Reply

Samsung Electronics Plans Global Job Cuts of Up To 30% in Some Divisions

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  • Just remember folks. No matter how many “restructures” we see..no matter how many “drawdowns”, or “constricting markets” excuses we hear, there is NO recession.

    Because ‘Murica says so.

    • We've recovered significantly faster. So you will notice these layoffs are overseas. America took some hits because we cranked interest rates and that's exactly what cranking interest rates is designed to do.

      Everyone talks about those interest rate hikes in abstract terms but nobody ever thinks about what they actually do. They constrain the money supply so that when a company is having a less than perfect quarter they immediately go to layoffs.

      The goal is to get you fired so you're forced to take a

      • Right. We need a way forward. Someone with fresh new ideas and no responsibility for the mistakes of the past. Certainly not someone who had success in the past, and definitely not someone IS IN OFFICE RIGHT NOW, right?

        • I'm a conservative. I know it doesn't seem that way because by 2024 American status I seem like a left wing lunatic in comparison, but I'm not in favor of nationalizing anything that isn't a natural monopoly, I support single payer healthcare but only because it's been shown time and time to be a better system and I support tuition free college because we did it in the 60s and 70s and it worked great.

          I'm in favor of progress when I know it'll work and caution of change until I do. I want data. And by an

        • Re: (Score:2)

          by GlennC ( 96879 )

          Right. We need a way forward. Someone with fresh new ideas and no responsibility for the mistakes of the past. Certainly not someone who had success in the past, and definitely not someone IS IN OFFICE RIGHT NOW, right?

          I agree, and also definitely not someone who WAS PREVIOUSLY IN OFFICE either.

          (I realize this may be redundant)

    • Just remember folks. No matter how many “restructures” we see..no matter how many “drawdowns”, or “constricting markets” excuses we hear, there is NO recession.

      Because ‘Murica says so.

      Look on the bright side. Gas prices are finally coming down in the states. It'll be cheaper to drive to the unemployment office now.

    • If you don't like cycles of growth and recession then you also don't like capitalism. Recession is inevitable under the economic system most of us enjoy.

      You could always centralize your economy like the Soviet Union did, and has long periods of economic decline and depression with only short periods of growth.

      Recession does has a specific definition. But for the sake of argument let's say every drawdown, restructuring, and constricting market is a recession. So what? If the period of negative growth is shor

    • It's interesting to think of recessions as psychological phenomena. Recessions represent a collective loss of confidence. I wonder how much pull back is based on fear of others pulling back?

  • The End of More. (Score:2, Offtopic)

    by Qbertino ( 265505 )

    Global peak wealth was likely 2019, just before the CoViD Pandemic. Globalisation and it's efficiencies are hitting breaking points. Demographic pyramids are flipping all around the world, with a few exceptions here and there. Korea being one noteworthy candidate, among many others. Add automation to consolidation and you get job-cuts, epic style. Volkswagen just announced the same in Germany. This is just picking up, I expect it to get more intense in the next 5-10 years. Inflation will be through the roof

    • If Routine then leave in operating income. Samsung might details come later. Enjoy your career at Samsung we routinely cut a good chunk of staff which keeps folks on their toes. Extra training and separation costs are recouped in productivity gains from those competing to keep their income. Plus we can hire cheaper staff when economy weakens. Samsung not alone many companies employ similar tactics albeit more discreetly.

    • Re: (Score:3)

      by RobinH ( 124750 )

      I watch a lot of Zeihan too. I would caution that in his little anecdotes he uses to illustrate his points, he's very often incorrect on the details. He oversimplifies and uses exaggeration to make a point. He's also paid to go around talking to large groups, many of whom are in the fossil fuel industry, and people will always pay you more to hear mostly what they want to hear.

      That said, the core of his arguments are based on demographic and geopolitical data that's pretty easy to fact check. He rose to

      • Just look at this Samsung story. It doesn't say whether Samsung's total headcount will be more or less next year. It doesn't say how many positions are being cut. It doesn't say anything. "Up to 30% of some unspecified sub-population of the company" does not mean anything. And the look at the grand conclusions people are drawing from it.

        It's precisely like trying to support an argument about climate change by remarking that "it snowed today in Mongolia."

        • Re: (Score:3)

          by RobinH ( 124750 )
          True. This Samsung story by itself isn't terribly important, unless you're one of the people laid off. But it does seem to be one of many stories about tech companies laying off people. If you follow Peter Ziehan's arguments, he's saying that tech companies throughout the 2000's and 2010's ran on cheap capital to grow really fast without having to make a profit. Many of them (like Amazon and Uber) also took advantage of cheap labor because there were two large cohorts (boomers and millennials) both in th
          • Well, yes, that all may be true. I wonder a lot about the impacts of these demographic shifts on equities (i.e. my 401k), home prices, etc. I would like to see more reporting on the overall 'puzzle' (national or global statistics) instead of just out-of-context pieces.

            • Re: (Score:3)

              by RobinH ( 124750 )
              There's lots of long-form content out there where podcasters sit down with interesting people who are knowledgeable about certain topics and they have long in-depth and nuanced conversations with them. Those people also write lots of bestselling books putting forth their views and reasoning. But you won't find any of that in news articles and opinion pieces, and since /. only pulls from those sources you won't see it on here either.

      • Zeihan is a loudmouth jingoistic demagogue. He's not just often incorrect, he's wrong a vast majority of the time. There's surely a reason he got fired from his previous think thank...

        • Re: (Score:2)

          by RobinH ( 124750 )
          I'm not interested in having conversations with people who resort to name-calling. If you want to have a grown-up conversation and talk about the specific content of what someone says, then I'm interested.

          • Re: (Score:2)

            by cripkd ( 709136 )
            I watched quite a bit of Zeihan over the past couple of years, he does get his point across very efficiently. I'm not speaking at all about whether he is right or not, but I'm not sure I see the name calling just by saying that someone is a loud aggressively patriotic demagogue especially when the only thing the person you are talking about is doing is ... speaking. Zeihan produces ideas and conclusions, he doesn't act. So I see no problem in the possibility of him being all those things.
            Demagogue is not

    • The end of more is subtle, in that it won't be to noticeable in the short term. Instead of a crash followed by a higher peak, it'll be a crash followed by a lower peak. The long term trend will be clear, but not on the timescale of elections.
      The same with oil production. expected shale production peak is expected before 2030. Some expected it this year. We'll see. The point is they were right on the money with conventional crude production peaking in 2005, so I'd bet on something cracking within the next 5

  • Samsung has a richly-deserved reputation as a purveyor of mediocre software in the way of bloatware.

    • We can but hope they stop trying to make software, but sadly, I suspect they won't.

    • Even their core software doesn't work very well. They're too busy trying to find yet more ways to stuff advertising down your throat to be bothered to make their products work at all. I'll never buy another Samsung product ever again.

    • Had high-tech Samsung washer-dryer combo. Died after six months of barely doing its job. The control board either shook itself to death or overheated too many times. Basically it wasn't hardened for the harsh environment of the home interior. Oh great, now their bespoke washer/dryer combo has AI: https://www.samsung.com/us/hom... [samsung.com]

      I replaced it with completely analog Whirlpool washer and dryer units. They have electro-mechanical controls. I lost track of how many years these have been working flawlessly.

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