Samsung is NOT Laying Off 10,000 Employees, Just Shuffling Them Around [Follow-Up]

[dgstorm]

Yesterday we shared a report that Samsung was potentially planning to lay off about 10% of their workforce in their main headquarters. This would have amounted to around 10,000 employees. Luckily for those employees, Samsung has come forward refuting the report.

According to Sammy, they will only be shuffling them around. Here's a quote from the new report,

South Korea's No. 1 tech giant Samsung Electronics Co. said Wednesday it is relocating a small portion of its workforce, denying rumors that it plans to reduce its management-related staff amid a slowdown in earnings.

"It will only be relocations of workers," a high-ranking Samsung Electronics official said, denying the market's rumor that the company will seek to cut 10 percent of its management staff in departments such as sales and public relations.

This move has occurred in response to "leaner times" for the South Korean tech giant. It isn't the only move they have taken to improve the efficiency of the company. Earlier this year Samsung chose to freeze salaries for its employees. This is the first time since 2009 that Samsung has not offered regular raises.

We have to give Samsung some credit, it seems they bend over backwards to avoid firing people...

Source: Yonhap News