Samsung Semiconductor's U.S. subsidiary Cut 3% of its Workforce
Views : 119
Update time : 2023-03-15 11:19:48
According to South Korean media reports, major U.S. technology companies are laying off employees on a large scale to accelerate organizational restructuring due to poor business performance and the recession. Samsung is also following the trend, quietly laying off employees at its U.S. semiconductor subsidiary.
Sources in Silicon Valley revealed that Samsung's U.S. semiconductor subsidiary informed all employees that it plans to lay off 3% of its workforce due to the uncertain economic situation. Samsung's U.S. semiconductor subsidiary employs about 1,200 people, that is, about 30 employees will be laid off.
Large U.S. technology companies have recently been laying off employees. Amazon laid off 18,000 employees, Google's parent company Alphabet laid off 12,000 employees, Microsoft laid off 10,000 employees, Dell Technologies laid off 6,650 employees, and so on. Samsung's U.S. semiconductor subsidiary layoffs, also due to the global economic recession led to a decline in demand, the semiconductor industry into recession.
It is understood that Samsung's fourth quarter 2022 semiconductor division operating income of about $ 204 million. The first quarter of 2023 is expected to have a loss of about $1.5 billion.
In contrast to Samsung, Intel's revenue in the fourth quarter of 2022 was $14 billion, with an operating loss of $700 million, the worst single-quarter performance in 50 years. Intel is expected to continue to lose money in the first quarter of 2023, and Intel also announced thousands of layoffs at the end of 2022 to reduce operating costs.
