Samsung Electric Industries merged with Samsung Semiconductor & Communications to form Samsung Electronics. Credit: Shutterstock/JHVEPhoto

Samsung is set to cut 30% of overseas staff in some divisions, according to sources.

The South Korean chaebol has instructed it overseas divisions to reduce sales and marketing staff by around 15% and administrative staff by up to 30%.

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The plan will be fully implemented by the end of 2024 and will impact jobs across the Americas, Europe, Asia and Africa.

The job cuts are being made in preparation for a slowdown in global demand for technology products as the global economy slows, according to the sources, with reports that Samsung is seeking to shore up its bottom line by saving costs.

In a statement, Samsung said workforce adjustments conducted at some overseas operations were routine and aimed at improving efficiency.

The company said that there are no specific targets for the plans, adding that they are not impacting its production staff.

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Samsung employed a total of 267,800 people as of the end of 2023, and more than half, or 147,000 employees, are based overseas, according to its latest sustainability report.

In China, Samsung has notified its staff about the job cuts that are expected to affect about 30% of its employees at its sales operation, a South Korean newspaper reported this month.

Conglomerate Samsung Group, of which the electronics giant is the most prominent, is the country’s biggest employer and plays a key role in its economy.

The exact number, geography and business units to sustain layoffs remains unknown but a “global mandate” on job cuts was sent three weeks ago.

While it is not clear if Samsung will cut jobs in its headquarters South Korea, one source said Samsung would find it difficult to lay off workers in the region because it was a politically sensitive issue.