Samsung considering trimming down the Foundry workforce by 30% this year. The company has reportedly started a four-round voluntary retirement program.
In an unprecedented move, Samsung kicked off a four-round voluntary retirement program, reports DigiTimes. This move aims to reduce the workforce at Samsung Foundry by 30% by the end of the year.
“Samsung Electronics has launched an unprecedented four-round voluntary retirement program, aiming to cut more than 30% of its foundry workforce.” – DigiTimes.
Recently, Jay Y. Lee completed two years as Samsung Electronics Chairman. The official just returned from its overseas trip to solidify business growth. Samsung Foundry is currently in a massive crisis, requiring immediate action.
It is reported that Samsung Foundry may flag significant losses this year. The company failed to attract major clients for contract manufacturing. At the same time, its advanced process nodes end up falling short of the production threshold.
Samsung’s memory semiconductor business, known as a cash cow, is also facing intense competition. The MX Division is doing a good job, but other divisions must have to stand rock solid to maintain a harmonious growth momentum.
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