Over the past few weeks, we have constantly heard some tech companies and startups laying off workers both locally and internationally.
It was reported that Jumia laid off 30% of its work force off their jobs. IrokoTV also laid off about 130 staffs off their jobs. Just after that, we got a memo of Microsoft laying off around 1000 workers which isn’t the company’s first as it was reported in July that the company laid off about 18,000 staffs.
Not too long, Dealdey joined the companies laying off staffs within the period of one month. Dealdey didn’t only lay off staffs, they also closed their warehouse.
Now, report has it that Samsung is planning on laying off a huge number of staffs. This isn’t the first time such report will be over the internet. The most recent was in September of which Samsung actually denied. Apparently, another report is out stating that the south Korean company will likely be laying off 1000 staffs off their duties in China.
The report is even more specific as it states that the managerial-level workers and executives in China currently have their jobs at stalk. According to the report, an official said that Samsung’s top priority is to save cost (could there be any other reason?). Average workers with mediocre performance are advised to leave the company with a sizable compensation.
It was furthermore revealed that job cuts will happen in countries where the company has manufacturing units, and respective HR teams have been asked to persuade employees in question to join the “voluntary retirement system”. Underperformers and managers aged over 50 and officials who failed to be promoted to a higher level are the targets for the voluntary retirement program by Samsung C&T.
The report also said that the layoffs are expected to result in Samsung Electronics with around 30% of its workforce in finance, human resources and marketing divisions.
Samsung Group will announce its year-end reshuffle of top and middle level executives in the first week of December. It is expected that many division heads will be replaced by younger people as a power shift is underway inside the conglomerate led by Samsung Vice Chairman Lee Jae-yong.