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Samsung units cut about 5,700 jobs through voluntary retirement

All Headlines 10:25 August 18, 2016

SEOUL, Aug. 18 (Yonhap) -- Five of Samsung Group subsidiaries have slashed about 5,700 jobs so far this year via voluntary retirement programs, according to the units' regulatory filings on Thursday.

The five units -- Samsung SDI, Samsung Electro-Mechanics, Samsung Heavy Industries, Samsung Engineering and Samsung C&T -- have offered early retirement or voluntary severance, as part of a drive to increase competitiveness and return to profitability.

The five subsidiaries had a total of 49,259 employees as of June 30 this year, down 10.4 percent or 5,729 employees, from six months earlier.

Samsung SDI, which spun off its chemical business, slashed 1,662 jobs this year.

Samsung Heavy, which announced a self-rescue package amid market difficulties, cut 1,619 jobs.

After offering a voluntary retirement program for employees who worked for 10 consecutive years, Samsung Electro-Mechanics shed 797 jobs.

Samsung Engineering cut 741 jobs, while Samsung C&T got rid of 910 jobs.

Meanwhile, the number of employees at Samsung Group's flagship, Samsung Electronics, fell 1.5 percent or 1,478 people, to 95,420 as of June 30 this year, from 96,898 as of the end of last year.
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