Samsung’s Foundry Business Facing Another Crisis As Employees Are Jumping Ship To Other Companies For Greener Pastures; 200 Personnel Applied To SK hynix

The situation at Samsung has gone from bad to worse because employees are looking for more reasons to find opportunities outside of the Korean giant’s foundry business. Shortly after posting its Q3 2024 earnings guidance and issuing an apology regarding its poor performance for the quarter, there are all sorts of discouraging information surrounding Samsung, with the latest one being that around 200 engineers applied to SK hynix for a position that required experienced personnel.

SK hynix only had vacancies for three people; Samsung engineers with little experience in the foundry business are also attempting to transfer

Despite Samsung reportedly reducing the number of executives from its semiconductor division to steer the way towards healthier financials, The Elec hints that morale at the company is at an all-time low. SK hynix, one of Samsung’s competitors, beat its rival and obtained NVIDIA as a customer for its HBM memory, which is a crucial component required for the mass production of AI GPUs. The latest report states that SK hynix has recently put up job postings where the company required three experienced etching engineers.

The surprising development is that around 200 engineers from Samsung applied for that position, suggesting that several of these individuals are indeed qualified for the job. The report also mentions that it was extremely unusual for so many Samsung employees to apply for the same position, suggesting that these people are desperately trying to advance their careers elsewhere. Those with little experience are also attempting to transfer to SK hynix, which has a program to recruit engineers with less than five years of experience.

A town hall meeting was also conducted last month where Samsung executives and employees were present. One person asked if there was a solution to secure the current talent. The Korean giant’s memory division head, Lee Jung-bae, did not have the most encouraging response and informed the teams to work hard and convince others not to seek employment elsewhere. In terms of monetary compensation, Samsung pays only slightly better salaries to employees if their bonuses are counted, giving these individuals even less motivation to stick around.

News Source: The Elec