Crisis At Samsung? Hundreds Of Engineers Reportedly Apply For 3 Jobs At Rival SK Hynix As World’s Largest Smartphone Maker’s Chip Troubles Mount – Samsung Electronics Co (OTC:SSNLF)

Hundreds of engineers from Samsung Electronics Co Ltd. SSNLF are reportedly applying for a limited number of job openings at rival firm SK Hynix, amidst ongoing chip industry challenges.

What Happened: Around 200 Samsung employees have expressed interest in three job vacancies at SK Hynix, reported Korean media outlet The Elec, citing sources familiar with the matter.

These positions, targeted at experienced etching engineers, have seen an influx of applications from Samsung’s skilled fab engineers, a development that has caught the industry’s attention due to its unusual nature.

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According to the report SK Hynix’s Junior Talent program, previously open to engineers with less than three years of experience, has expanded its criteria to include engineers with up to five years of experience.

This change has reportedly drawn Samsung engineers with limited experience. Following the program’s expansion, the number of Samsung applicants has significantly increased.

Samsung did not immediately respond to Benzinga’s request for comments.

Why It Matters: This unusual job shift comes at a time when Samsung is grappling with several challenges.

Earlier this month, Samsung cautioned that its third-quarter profit would fall short of market expectations and apologized for the underwhelming results.

The company has been trailing its competitors in providing advanced chips to Nvidia Corp. amid the rapidly growing AI sector.

In September it was reported that Samsung planned to cut its global workforce by up to 30% in certain divisions due to intense competition.

Amid these challenges, Samsung is expected to launch its “Special Edition” Galaxy Z Fold 6 on Oct. 25.

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Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.

Photo courtesy: Samsung