Sunday, July 2, 2017

Samsung cuts is workforce for the first time in seven years

Recent data shows that Samsung has cut its workforce for the first time in seven years, which is a result of its restructuring efforts in China. The total number of employees of the world’s largest electronics brand fell 5.2% from 325,677 in 2015 to 308,745 in 2016.

The number of Samsung employees in Korea fell 3.8% to 93,204 and the numbers abroad fell 5.8% to 215,541. Interestingly, the number of Samsung employees in China fell a whopping 17.5% to 37,070 last year, but the number increased in North and South American markets surged 8.5% to 25,988.

According to a company official, Samsung’s manpower fell in Korea due to to the sale of its printing business to HP. The company did a corporate restructuring at its factories in China and other Asian markets as well, which led to an overseas manpower cut.

The female employee ratio at Samsung fell 2% to 44% last year, but the number of female managers and executives rose from 12.4% and 4.5%, respectively, to 12.7% and 6.3% last year. Samsung reportedly has 2,468 co-operative business partners across the globe.