Microsoft topped Forbes’ World’s Best Employers list for 2024, surpassing Samsung Electronics, which had previously held the top spot for four consecutive years since 2020. Alphabet, Google’s parent company, secured second place, with Samsung ranking third.

The list, based on a survey conducted by Forbes in collaboration with German polling firm Statista, polled over 300,000 employees from more than 50 countries, focusing on multinational companies with over 1,000 employees on at least two continents.

Samsung’s two-spot drop is attributed to internal and external challenges, including its first-ever union strike in July, a worker radiation exposure accident, a strike at a home appliance factory in India and significant operating losses of nearly 15 trillion won ($11 billion) in its semiconductor business.

Despite the decline, Samsung remains the only Korean and Asian company in the top 10.