Suwon-si, September 11: Samsung Electronics will reportedly lay off around 30% of its global workforce as a part of routine exercise to improve its efficiency. The Samsung layoffs in India will likely impact nearly 1,000 employees. After recent reports of the South Korean tech giant had cut 200 senior executives in India ahead of the festive season and the company's latest move will affect the global workforce and several divisions.

Unlike the Samsung India layoffs, which were said to impact around 9-10%, according to a report, the Samsung global layoffs will cut more people from several departments as a part of routine exercise; however the reports said the company would reduce headcount due to weak demand and rising competition. According to a report by Hindu, it is not exactly how many people the company will lay off and from which countries; however, the numbers could be higher. Samsung India Layoffs: Samsung Electronics To Lay Off Around 9–10% of Its Total Workforce Ahead of Festive Season Amid Poor Demand.

Samsung reportedly started offering severance packages to mid-level employees in India . The Samsung layoffs will impact 30% of the global workforce from the divisions, including sales, marketing and administration. The global job cuts will be implemented across regions like the Americas, Asia, Africa and Europe.

The report highlighted that the details about the tech layoffs at Samsung remained confidential. According to Samsung, the workforce adjustments implemented in the overseas operations were routine and targeted at improving the company's overall efficiency. The tech giant said there were no specific targets for reducing the headcount. It also added that the decision would not impact the production staff.

According to the report, Samsung had a global workforce of around 2,67,800 by the end of 2023, of which 1,47,000 were based overseas. The company also had around 25,100 employees working in the sales and marketing department and 27,800 in other areas. Globally, 30% of the Samsung workforce would be impacted, while India units may lose 1,000 people. Dell Layoffs Will Continue and Affect More Employees in Workforce As Tech Giant Struggles To Control Costs Amid Slow Demand for PCs.

In India, Samsung has a workforce of around 25,000, out of which 1,000 people will leave their jobs, which would likely be around 4%. However, the previous report hinted at around 9-10% of job cuts to be announced in the country.

(The above story first appeared on LatestLY on Sep 11, 2024 06:47 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).