April 19, 2024

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[THE INVESTOR] Samsung Group’s five affiliates have cut 5,700 employees in the first half of this year, the companies said in their semiannual reports.

The companies include Samsung SDI, Samsung Electro-Mechanics, Samsung Heavy Industries, Samsung Engineering and Samsung C&T, five of the group’s 15 listed companies.

Samsung SDI, the battery-making unit, shed the largest 15 percent, or 1,662 people, since the sell-off of its chemicals business to Lotte Group. The total employee number was 9,422. 

Samsung Group headquarters in Seocho-dong, southern Seoul

Samsung Heavy Industries, the ailing shipbuilder currently seeking a self-rescue plan worth 1.5 trillion won (US$1.3 billion), reduced 11.5 percent, or 1,619 people.

Samsung Electro-Mechanics, the parts unit, saw a 6.8 percent decrease, or 797 people, in a recent voluntary retirement program, while Samsung Engineering reduced 741 people.

Samsung C&T, the construction and trading unit and the group’s de facto holding company, also reduced 7.5 percent, or 910 people, mostly at its struggling construction business division.

Samsung Electronics, the group’s crown jewel and which makes up more than half of the revenue, saw a small 1.5 percent reduction in employees, with the figure totaling 95,420 in the first half.

Samsung’s financial units, which had carried out large-scale restructuring in 2014, didn’t see a drastic change in their employee numbers.

By Lee Ji-yoon (jylee@heraldcorp.com)