(RTTNews) – Samsung Electronics Co. Ltd. (SSNLF, 005930.KS, SMSN.L, 005935.KS) has cut jobs across its U.S. display, mobile, and other consumer electronics businesses, with layoffs mainly impacting employees in New Jersey and Texas, according to a Reuters report. This move comes against the backdrop of the company’s decision to shift Samsung Electronics America, or SEA, headquarters to Texas.
As per the Reuters report, 739 positions at Samsung Electronics America in Englewood Cliffs, New Jersey, have been impacted as part of the relocation process. The report said that the move does not involve its semiconductor business.
The report said, while quoting sources, that while most affected employees were offered relocation packages, others were laid off. Separately, around 100 employees at SEA’s Plano, Texas, office, including workers in its mobile division, have also been laid off, the Reuters report added.
On the Korean Stock Exchange, 005930.KS is down 4.31 percent on Monday’s trading at KRW 244,500.00.
