South Korean tech giant Samsung Electronics is laying off hundreds amid the move of its U.S. headquarters to Plano.\u00a0<\/p>\n
According to an email from the company, 739 employees are being laid off or given relocation offers in\u00a0Englewood Cliffs, N.J., the former location of Samsung Electronics America\u2019s headquarters, \u201cas part of our business transformation.\u201d At least 100 people in Plano are also being laid off, according to a report from\u00a0Reuters<\/a>.\u00a0<\/p>\n Samsung confirmed to\u00a0The Dallas Morning News\u00a0in June <\/a>it would designate its existing sprawling Plano campus the headquarters of Samsung Electronics America, which is focused on consumer electronics and not involved with Samsung\u2019s booming semiconductor manufacturing business. The transition is expected to be complete by the end of the year.\u00a0<\/p>\n Samsung announced the\u00a0move less\u00a0than a year after it cut the ribbon on a state-of-the-art campus in Englewood Cliffs, planned to house around 1,200 employees, according to a release from the area\u2019s U.S. Rep. Josh\u00a0Gottheimer<\/a>. The campus replaced Samsung Electronics America\u2019s headquarters in nearby Ridgefield Park, N.J., where Samsung had a presence since 1992.\u00a0<\/p>\n Samsung has long had significant business\u00a0in North Texas, centered around the Legacy Central development in Plano at U.S. Highway 75 and Legacy Drive. Operations were first consolidated there in 2019, before Samsung expanded the office by another 70,000 square feet in 2020. It then added another 60,000 square feet at another building in the development in 2021, and in 2023 added roughly 33,000 square feet of office space at The Tennyson in Legacy business park nearby. It also has warehouse and distribution space scattered across the region.<\/p>\n According to a WARN notice filed in New Jersey, layoffs in Englewood Cliffs\u00a0will go into effect on Sept. 30. Records also show that Samsung SDS, a subsidiary that provides information technology services, filed a potential layoff of 179 people in Ridgefield Park, N.J., in June.<\/p>\n Samsung\u2019s reductions in force come as the company faces competing futures. In\u00a0the second quarter of 2026, per its most recent earnings guidance<\/a>, operating profit grew 19-fold compared with the same period last year on the back of chips manufacturing, and Samsung is investing heavily in meeting artificial intelligence demand. Samsung has a chips factory in Austin and recently opened another in Taylor. However, consumer electronics has not kept pace and faces cost pressures due to the pricing price of memory chips.\u00a0<\/p>\n Other technology companies have made similar moves investing in AI while trimming other business segments. Microsoft, which reported AI-driven revenue growth in its most recent earnings report, is laying off 4,800 employees concentrated in its commercial and\u00a0Xbox segments, including more than 150 gaming employees at two Texas locations<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"South Korean tech giant Samsung Electronics is laying off hundreds amid the move of its U.S. headquarters to…\n","protected":false},"author":2,"featured_media":379923,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[15],"tags":[97766,160,162,161,89397,88944],"class_list":["post-379922","post","type-post","status-publish","format-standard","has-post-thumbnail","category-plano","tag-business-technology","tag-plano","tag-plano-headlines","tag-plano-news","tag-tp-ai-artificial-intellgience","tag-tp-plano"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/posts\/379922","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/comments?post=379922"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/posts\/379922\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/media\/379923"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/media?parent=379922"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/categories?post=379922"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/tags?post=379922"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}