Samsung to Cut 10,000 Workers at Its Headquarters

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Posted September 8, 2015 at 7:32pm by iClarified

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

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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.

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CryMeARiver - September 9, 2015 at 6:28am

Wow...I can tell you really read this article!! Hahaha Apple is debt free, yet Samsung made Apple? Apple continues to flourish. Samsung continues to decline! "I know guys on crack that makes more sense then you!" -Gold Member-

CryMeARiver - September 9, 2015 at 6:29am

Previous post meant for "your daddy"

Marc - September 9, 2015 at 12:09am

6 is > 6 though remember? LMAO

gamerscul9870 - September 9, 2015 at 12:11am

Which one? The one that bends with plastic or the one that bends in aluminum? LAWL

gamerscul9870 - 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

ChiChi - September 8, 2015 at 11:00pm

Actually Samsucks pain was not purely caused by Apple alone. Low-end smartphones is where Samsuck dominates and It was the much-crappier, cheaper smartphones from China that is taking a bigger chunk of their market share. In any case, karma is getting back at them now.

3789c93 - September 8, 2015 at 9:03pm

All the marketing Samsung does about how they are better than iPhone is basically just free advertising for iPhone..... 2 weeks from now after apple releases the iPhone 6s with 3D force touch, Samsung will introduce 4D touch. Time to stop making crappy versions of everything Apple does and get original...

gamerscul9870 - September 8, 2015 at 8:25pm

That's what happens when you too worried about other companies and rather put the budget on ads just to express it all. Blame the CEO for all this shit staining.

hamood_d10 - September 8, 2015 at 8:08pm

on your face samsung STOP COPYING then you will make money id**

Gabe - September 8, 2015 at 8:04pm

Times are getting tough. When no ones buying your phones and you're not making money you gotta make a "few" cuts. Lolololololol.

Thokz - September 8, 2015 at 8:06pm

That's not funny. Those people losing their jobs may have families to feed

m_thoroughbred - September 8, 2015 at 10:11pm

You don't want that to really happen bro. As much as you may dislike Samsung. That would just hurt a lot of players in the industry including Apple. But I do agree with some of the things you and others have pointed out. The spent a lot of money advertising and in sponsorships. I mean look at how much money they spent on the olympics to become their official sponsor.