US Markets
Home›US Markets›Sectors›Samsung Electronics America to cut 739 jobs in New Jer…
Samsung Electronics America to cut 739 jobs in New Jersey
The company said it is preparing to relocate its headquarters to Texas by the end of the year as part of a workforce structure change.
Samsung Electronics America will reduce its workforce by 739 jobs in Englewood Cliffs, New Jersey, according to a Worker Adjustment and Retraining Notification, reviewed by Reuters.
The unit handles U.S. sales and marketing for Samsung Electronics displays, phones, TVs, and home appliances, and employs about 1,200 workers in New Jersey, according to a September press release cited in the report.
Reuters noted the WARN notice is required under U.S. law when employers carry out mass layoffs or plant closures. Samsung said the New Jersey changes are not layoffs, and that most affected employees have been offered relocation opportunities.
Samsung also said the Englewood Cliffs unit, which excludes its semiconductor business, is preparing to relocate its headquarters to Texas by the end of the year, with potential workforce structure changes depending on relocation and business needs.