Samsung Group is reducing its managerial-level workers and executives as it seeks to become leaner and reduce costs amid an uncertain market outlook.
Samsung said that the ongoing efforts to downsize the workforce corresponds to a plan to layoff workers in countries that Samsung runs manufacturing plants in.
The key point is how many Samsung Electronics’ workers will be let go as the company provides the biggest revenue for the group and its human resources management plan will act as a guideline to other group affiliates.
Samsung Electronics is expected to relocate up to 30 percent of its workers as it cuts back on the role of those who work in finance, human resources and marketing.
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.