Samsung shares have slid more than 20 per cent in 2024 as the world’s largest maker of memory chips and smartphones struggles in key markets.
Job cuts are planned for other overseas subsidiaries and could reach 10 per cent in certain markets, the person said. “Some overseas subsidiaries are conducting routine workforce adjustments to improve operational efficiency,” a Samsung spokesperson said. “The company has not set a target number for any particular positions.”
The task of leading Samsung through its latest challenges now falls to executive chairman Jay Y. Lee, grandson of the company’s founder. The 56-year-old was acquitted of stock manipulation charges in February after years of legal troubles.
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