Samsung to Retool Texas Plant, Cut 500 Jobs

Samsung Austin Semiconductor will close a microchip factory in Austin, Texas for a year starting in October, to retool and modernize the facility. Five hundred out of 1,600 workers will be laid off, although up to 200 new jobs will be created when the plant reopens.

The job cuts will target less skilled workers; the new jobs will be for technicians and engineers.

The upgrade could add $1.5 billion and 5,000 indirect jobs to the Austin area, according to the Greater Austin Chamber of Commerce.

The Samsung Group is the world’s largest conglomerate by revenue, headquartered in Seoul, South Korea. It is South Korea’s largest chaebol (government-sponsored conglomerate) and is composed of numerous international affiliated businesses, most of them united under the Samsung brand.

Related posts:

Career Connect (From our other career blogs):

Employment News (Sponsored by EmploymentSpectator)
Following Your Passion-Literally! (Sponsored by iamnotastalker.com)
Job Search Advice from the CEO of TravelingCrossing (Sponsored by aharrisonbarnes.com)
Layoff News (Sponsored by LayOffWatch)

Testimonial of the Week

EmploymentCrossing was helpful in getting me a job. Interview calls started flowing in from day one and I got my dream offer soon after.

Jeremy E Greenville, NC

+ Read More Testimonial

Only TravelingCrossing consolidates every job it can find in the domain and puts all of the job listings it locates in one place.

We have more jobs than any other job board.
We list jobs you will not find elsewhere that are hidden in small regional publications and employer websites
We collect jobs from more than 4,429,376 websites and post them on our site.
We are private, and therefore far fewer people are applying for the jobs on our site than are applying for those on public job boards.