Source: Samsung Electronics

Samsung Electronics plans to move the headquarters of its U.S. subsidiary from Englewood Cliffs in New Jersey to Plano later this year, according to industry sources on Monday, News.Az reports, citing The Korea Times.

The company recently informed employees of its decision to relocate the office from Englewood Cliffs, New Jersey, to Plano, Texas.

This move comes just one year after Samsung Electronics had shifted its U.S. headquarters from Ridgefield Park, New Jersey, to the nearby Englewood Cliffs location.

A company official, speaking on condition of anonymity, said: “We are preparing for the relocation with the goal of completing the move within this year.” The official also added, “After a thorough review, we will finalize plans for headquarters operations and workforce allocation.”

Approximately 1,000 employees currently work at the Englewood Cliffs headquarters. Most are expected to be reassigned to the new headquarters in Plano, while a small number of staff will remain in New Jersey to support local office operations.

Industry observers said the relocation is intended to improve coordination across Samsung Electronics’s U.S. operations, including its semiconductor and consumer electronics businesses.

Texas is considered attractive for major technology firms due to advantages such as favorable tax policies and lower real estate costs, making it an increasingly popular destination for corporate relocations.

News.Az 

By Nijat Babayev