Sansung more Dua Kee than Intel liao....30% global leetrenchment...Boss John can sleep well tonight

[k1976]

Samsung Electronics plans global job cuts; withdraws staff from Taylor, Texas chip fab​

Company is also looking to resolve strike action taking place at Indian factory
September 12, 2024 By Charlotte Trueman Have your say
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Samsung Electronics is planning global job cuts of up to 30 percent across some divisions and has also made the decision to withdraw personnel from its chip fab in Taylor, Texas following repeated delays which has seen the company push mass production at the plant back from 2024 to 2026.
Separately, the company is meeting with the labor minister in the Indian state of Tamil Nadu to try and resolve strikes at its Sriperumbudur factory, which are now into their fourth day.

Workers at Samsung's Hwaseong campus, Korea– Samsung Electronics
Citing three sources with direct knowledge of the situation, Reuters reported that Samsung has told its global subsidiaries to reduce sales and marketing departments by 15 percent and administrative staff by around 30 percent.
Impacted personnel are based across the Americas, Africa, Asia, and Europe but no further information was disclosed about the countries and business units that would be most affected. Samsung reportedly issued the job cuts mandate three weeks ago.
In a statement to Reuters, Samsung described the layoffs as “routine” and said they were aimed at “improving efficiency,” adding that production staff would be impacted.
Elsewhere, BusinessKorea reported that the company has faced a foundry yield below 50 percent for processes under 3nm, leading to delays in mass production at the site and Samsung making the decision to keep only a minimal workforce at its plant in Taylor, Texas.
In April 2024, Samsung received $6.4 billion in direct funding under the US Chips and Science Act to support the company’s planned $40bn investment in a semiconductor cluster split between two cities in central Texas: Taylor and Austin.
However, in June 2024 it was reported that the company was delaying construction at its Taylor fab in order to upgrade the foundry process at the facility from 4nm to 2nm. The upgrade was to allow Samsung to compete more directly with TSMC, which had already announced plans to start producing 2nm-class process technology in the US before the end of the decade.
The yield gap between the two companies has reportedly widened, with an industry insider telling BusinessKorea that “Samsung’s GAA yield is around 10-20 percent, which is insufficient for both orders and mass production."
It’s unclear what this decision could mean for Samsung’s eligibility to receive its CHIPS Act funding, as the agreement specifically related, in part, to the Taylor, Texas plant.

Samsung Electronics to meet India minister to try and resolve strikes​

Following a summer of strikes at Samsung Electronics’ facilities in South Korea, workers at the company’s factory in Sriperumbudur, near the city of Chennai, India, are currently engaged in the fourth day of strike action, demanding higher wages and better hours.
Reuters has reported that to resolve the strike action, Samsung officials will hold talks with Secretary K. Veera Raghava Rao, the labor minister of India's southern state of Tamil Nadu. In comments to the news outlet, Rao said: “The government is sincere to resolve (the strike).”
According to a report from earlier in the week, posters with the words “Indefinite Strike” were seen outside of the factory, with workers having set up an encampment in order to stage their protest. It’s thought that approximately half of the factory’s 1,800 employees are taking part in the strike action.

 

[k1976]

Samsung to lay off over 200 employees in India across various divisions​

An industry source said the layoffs are part of a global restructuring exercise and not necessarily related to performance of any particular segment or market

South Korean electronics manufacturer Samsung is reportedly undertaking a restructuring exercise, handing out pink slips to employees. In India, the company is expected to lay off over 200 employees across divisions including smartphones, home appliances, and consumer electronics.
An industry source said the layoffs are part of a global restructuring exercise and not necessarily related to performance of any particular segment or market.

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[k1976]

(Credit: JHVEPhoto / iStock Editorial / Getty Images Plus via Getty Images)
Samsung is starting to lay off staff globally, impacting up to 30% of employees in some divisions by the end of this year, according to three sources familiar with the scope of the layoffs, Reuters reports Wednesday.
Sales and marketing departments are reportedly being reduced by 15%, while up to 30% of administrative staff are expected to be laid off. Samsung has about 25,000 sales and marketing staff, according to the report, meaning over 3,700 employees may be included in the layoffs.
Half a dozen other sources confirmed the global layoffs at Samsung more broadly, which are expected to impact staff across Samsung divisions in the Americas, Europe, Asia, and Africa. Samsung has nearly 270,000 employees globally across 76 countries, according to its website, citing data from late last year. Some staff in China and India will be losing their jobs, impacting up to 1,000 people in India alone, a source told the outlet. Samsung began notifying employees about three weeks ago.
Earlier this year, Samsung, which is headquartered in South Korea, reportedly imposed six-day workweeks for its executives to combat what it believes to be a financial "crisis" at the company. Samsung is still profitable, however, despite seeing a dramatic fall in quarterly operating profits from late 2022 until the end of 2023 and not having a great year overall last year.