Samsung to Cut 10,000 Workers at Its Headquarters

Samsung to Cut 10,000 Workers at Its Headquarters

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Samsung is preparing to cut 10% of workers (nearly 10,000 employees) at its headquarters, as its smartphone business stumbles due to strong competition from the iPhone and Chinese vendors, reports Bloomberg.

Samsung is targeting workers in the human resources, public relations and finance departments, Korea Economic Daily reported Tuesday, citing people it didn’t identify. The Suwon, South Korea-based company also plans to cut some expenses next year, the report added. Samsung declined to comment in an e-mail.

The moves comes after five months of declines in Galaxy smartphone sales and drop of $40 billion in Samsung's market value. The company's share of smartphone shipments fell 3% in the second quarter of 2015 and it's no longer the top vendor in China.

“Cutting jobs is the easiest way to control costs and Samsung’s spending on mobile business could also be more tightly controlled,” said Chung Chang Won, an analyst at Nomura Holdings Inc. “Samsung’s preparing to tighten its belt as it isn’t likely see rapid profit growth in the years to come.”

Samsung had 98,999 employees at its headquarters as of June 30th.

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Samsung to Cut 10,000 Workers at Its Headquarters
Zanka - September 9, 2015 at 5:27pm
Welp folks. Again. Apples 3 layered Eco system is the key. (OS app/music/video stores and devices). Cheesy attack ads and gimmicky features isn't gonna slow Apple down. Obviously it did the opposite and here we are once again with Samsung taking another hit. You can cry and viciously slam Apple all you want but until folks start building up the Eco system around their respected devices expect more of this.
Marc - September 9, 2015 at 12:09am
6 is > 6 though remember? LMAO
Which 6? - September 9, 2015 at 12:11am
Which one? The one that bends with plastic or the one that bends in aluminum? LAWL
Zanka - September 9, 2015 at 5:07pm
Please. As iPhones suppose to be indestructible. Smh oh that's right. Fuckbags damn near breaking their hands justify that one lol.
Nat - September 9, 2015 at 7:52pm
Dude, iPhone are becoming more indestructible! SMW!! 6s sports stronger glass and endless material. Try wrecking your hands doing that! Lawl
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