Samsung to lay off 3 percent of employees at US chip division

The tech world is seeing a massive downturn this year. Various tech titans including Twitter, Google, and Amazon laid off a certain amount of employees to reduce expenses and Samsung also joins the list with a small amount of layoff at its US chip business.

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According to a Business Korea report, Samsung Elec’s US chip subsidiary – Device Solutions Americas (DSA) lays off 3 percent of total employees. Sources claim that Samsung DSA notified all of its employees at US business about the plans to cut 3 percent of its staff due to “uncertain economic conditions”.

It’s noteworthy that the total number of employees at Samsung Device Solutions Americas is 1,200, of which about 30 employees (3 percent) were to be subject to layoffs. This move comes as the overall semiconductor industry hit a recession in the aftermath of a decline in demand.

In the previous quarter, the South Korean tech giant recorded $204 million in operating profit in the semiconductor division. Compared to the fourth quarter of 2021, the profit declined by a whopping 96.9 percent, which could continue to decline in the first quarter of this year as well.