We’ve seen a wave of mass layoffs at tech giants lately. So much so that many companies, from Meta to Amazon, from Twitter to Microsoft, have laid off thousands of employees. The reason behind this was that they wanted to reduce costs due to economic issues.

Today it appeared that another company had taken a similar step and joined the list. Based in South Korea, as reported by Business Korea. Samsungdecided to lay off some of its employees in the US.

Samsung lays off 3% of workers in its chip division in the US

Samsung’s layoff movement is taking place in the US semiconductor department to influence. According to the information received, the company has announced that its employees in this department are called “Device Solutions Americas”. 3% of he quit his job. Let’s say there are a total of 1200 people in the department, that is, 30 people have been laid off. While the number is not in the thousands as with other companies, it shows that even those who make billions of dollars in profits every year, such as Samsung, are affected by the experiences.

It is also possible to say that this move by Samsung is compatible with the economic recession in the semiconductor industry after the drop in demand. The South Korean company made a profit of $ 204 million in the fourth quarter on the semiconductor side. This is compared to the fourth quarter of 2021. There was a drop of 96.9% had revealed. The decline is expected to continue in the current quarter.

Due to the bad state of affairs in the industry, a similar step from Intel Let’s add what we saw. American semiconductor giant, in the fourth quarter of 2022 $700 million in damage explained. Then thousands of people were laid off in early 2023.