Samsung may cut up to 10 percent of its employees

According to a new report, Samsung could be preparing to lay off up to 10 percent of its staff from the corporate headquarters location in Suwon, South Korea. These cuts are said to affect employees in the human resources, public relations and finance departments. The lay offs would be in a cost savings effort, as the company plans to reduce expenses in the upcoming year.

A regulatory filing from June showed that the company had 98,999 employees at its headquarter location, which would mean around 10,000 jobs could be on the line. Samsung declined to comment on the possible layoffs.

Source: Bloomberg