Samsung Electronics (SSNLF) is cutting jobs across its U.S. consumer electronics business as it moves its American headquarters from New Jersey to Texas.
The relocation affects 739 positions in Englewood Cliffs, though Samsung said most employees have been offered the chance to move. Reuters also reported that about 100 workers in Plano, Texas, were laid off, including staff in the mobile division.
Samsung makes smartphones, televisions, appliances, memory chips and other electronics. Its semiconductor business is benefiting from booming AI demand, while its consumer-facing divisions are dealing with weaker margins and tougher competition.
That split helps explain the restructuring. Samsung is pouring more money into chips and AI infrastructure just as its mobile, television and appliance businesses face pressure from Apple and lower-cost Chinese rivals.