Chips are down
Samsung Electronics plans to significantly cut its chip executive positions and restructure semiconductor-related operations.
This move comes as it struggles to compete with rivals such as SK Hynix Inc. and Micron Technology Inc. in the advanced memory segment amid the AI boom.
Samsung is auditing its memory department which is under the Device Solutions (DS) division, which oversees its semiconductor business.
Sources familiar with the matter said the review, directed by Vice Chairman Jun Young-hyun, head of the DS division, will result in substantial job cuts at the presidential level.
A major executive reshuffle is expected to occur during the year-end personnel changes, according to sources.
The company will also streamline its foundry, or contract chipmaking business, which is reportedly losing piles of dosh, and reorganise the Semiconductor Research Centre, responsible for developing future chip technologies.
