Samsung laid off the highest number of employees in the first half of this year

General
By 

Last updated: October 17th, 2016 at 04:15 UTC+01:00

We first started hearing reports about a year ago that Samsung is downsizing its workforce in a bid to cut down on costs. Samsung said back then that it was actually advising “average workers with mediocre performance” to leave the company with a sizable compensation.┬áSamsung is still at it. 54 of the 109 listed companies that earned more than 1 trillion won ($880,000) in the first half of this year in South Korea downsized their workforce and Samsung Group laid off the highest number of employees.

Samsung Group is the conglomerate’s umbrella under which all of its 50-plus affiliates operate. Its battery-making affiliate Samsung SDI announced last year that it would lay off around 12,000 senior employees by 2016. Samsung Electronics had 95,420 employees in the first half of this year, down 3,579 workers from the same time last year. Nearly 2,000 workers were laid off from Samsung Heavy Industries, Samsung Electro-Mechanics and Samsung SDI as well.

This is all part of Samsung’s efforts to restructure its conglomerate and focus more on its core businesses, a leaner organization is certainly one of the ways to go about it.

Source General Samsung ElectronicsSamsung GroupSamsung SDI
Load comments

Related News

Samsung officially announces $17 billion semiconductor plant in Taylor …

  • By Anil G.
  • 5 days ago

Samsung’s $17 billion chip plant to reportedly come up in Texas

  • By Asif S.
  • 6 days ago

Samsung to produce 276 million phones in 2022 as the market recovers

  • By Mihai M.
  • 2 weeks ago

Samsung will rely less on Vietnam for its smartphone needs

  • By Anil G.
  • 2 weeks ago

Samsung wants to create a more flexible culture within the company

  • By Asif S.
  • 2 weeks ago

Samsung boss could confirm $17 billion plant location at his latest U. …

  • By Anil G.
  • 2 weeks ago

Samsung showcased startups that it nurtured during C-Lab Startup Demo …

  • By Asif S.
  • 3 weeks ago

Samsung unveils world’s first LPDDR5X DRAM chip, could be used i …

  • By Asif S.
  • 3 weeks ago