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Samsung cuts more than 1,600 jobs

Posted: 20 Nov 2007     Print Version  Bookmark and Share

Keywords:Samsung job cuts  employees executives  labor dip 

Samsung Electronics Co Ltd. has cut more than 1,600 jobs this year, the first dip in its labour force in a period of five years. According to an Agence France-Presse report, data presented to financial authorities on Sunday revealed the total number of Samsung employees in September was 85,269, down 1,630 or 1.9 per cent from the 86,899 reported six months earlier. The number of executives has also dipped from 836 to 821 this year.

The AFP report cited the Yonhap news agency saying the job cuts were a prelude to a "full-scale corporate restructuring" at Samsung, which is hounded by falling memory chip and flat-panel prices.

Samsung did confirm the payroll cut but denied working on a larger downsizing in the future.

"Some 500 to 800 staff quit here seasonally because high school graduates want to go to colleges," the AFP report quoted Samsung spokesperson James Chung. "The 1,600 is more than usual but it has nothing to do with the corporate downsizing."

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