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THE INVESTOR
December 09, 2019
Big Reunion

Samsung

Samsung affiliates reduce workforce amid uncertainties

  • PUBLISHED :November 16, 2016 - 17:26
  • UPDATED :November 16, 2016 - 17:52
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[THE INVESTOR] Samsung Electronics and three other group companies have reduced a combined more than 8,000 employees over the past year amid economic uncertainties, data compiled by the Financial Supervisory Service showed on Nov. 16.

According to the data, the total number of employees working at Samsung Electronics, Samsung Display, Samsung Electro-Mechanics and Samsung SDI stood at 139,323 in the July-September period, down 5.5 percent or 8,117 people compared to a year ago. 


Samsung Electronics' head office in Suwon, South Korea.



By breakdown, the crown jewel Samsung Electronics reduced 4.2 percent or 3,183 employees, while Samsung Display saw a 7.1 percent, or 1,820 reductions.

Samsung Electro-Mechanics and Samsung SDI cut 1,311 and 1,803 people from their payroll, respectively.

Those Samsung companies have run voluntary retirement programs in response to fiercer market competition and falling profits.

Separate data compiled by CEO Score, a local chaebol tracker, showed that the combined number of employees at Samsung’s 22 affiliates was down 4.3 percent to 212,496 people as of September from a year ago.

“Reflecting the economic crunch at home and abroad, the entire number of employees at the top 30 conglomerate in the nation dwindled to fewer than 1 million,” the research firm said.

By Kim Young-won (wone0102@heraldcorp.com)

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