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00:02Samsung Electronics reportedly cut about 839 jobs across its U.S. operations in New Jersey and Texas,
00:10according to a Reuters report. The company confirmed that 739 positions in Englewood
00:16Cliffs were affected as Samsung Electronics America relocates its headquarters to Texas.
00:21Most employees received relocation offers while others were laid off.
00:25Reuters also reported that about 100 workers were cut in Plano, including mobile staff.
00:32Samsung did not immediately respond to Benzinga's request for comment.
00:36The reductions come as Samsung's chip business benefits from rising AI demand,
00:41while its mobile unit faces pressure from Apple and Chinese competitors.
00:45Tech companies are cutting jobs as they redirect spending toward automation and AI infrastructure.
00:52Samsung's chip unit generated a record $53.7 trillion in first quarter operating profit,
00:58accounting for about 94% of the company's total profit.
01:02For all things money, visit Benzinga.com.
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