Global recession hits: Samsung Electronics to lay off up to 30% of its global workforce, citing declining sales and a shrinking customer base.

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Samsung is reportedly planning to announce some major layoffs worldwide

John Callaham · Sep 11, 2024 14:48 EDT

Samsung Electronics may be about to join the list of major technology companies that have cut their workforce in 2024. According to a report from Rooteurs, via unnamed sources, Samsung will be cutting a number of sales and marketing jobs by as much as 15 percent worldwide. In addition, it is reportedly going to cut its administration staff by as much as 30 percent worldwide.

The sources also told Reuters that the job cuts would be made by the end of 2024. At the moment, there are no specifics on how many of Samsung’s employees will be affected by these layoffs.

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Samsung sent a statement regarding these reports. It says that “workforce adjustments” in its operations were “routine.” It added that there were no specific business targets for these “adjustments,” and they would not affect any of Samsung’s production team members.

Reuters’ report says that at the end of 2023, Samsung had 267,800 employees, 147,000 of whom were based overseas. The sales and marketing staff numbered 25,100, according to the report, and 27,800 other employees worked in areas other than production and manufacturing.

The company most recently launched the Samsung Galaxy Z Fold6 and Galaxy Z Flip6 smartphones, along with the debut of its Galaxy Ring wearable fitness device and the Galaxy Watch7 and Galaxy Watch Ultra smartwatches.

Unconfirmed rumors claim Samsung is going to launch the budget-friendly Galaxy S24 FE smartphone in the near future, along with a special edition of the Galaxy Z Fold6. There are also reports that the company will launch the Galaxy Tab S10 series of tablets very soon. Of course, there are also some leaks and rumors about its Samsung Galaxy S25 series of smartphones, which could launch in early 2025, and there are still reports that the company is working on its long-awaited Samsung mixed reality headset.

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