Things are not good at Samsung – profits are falling, lay-offs have hit their workforce, and even the work culture at the Korean manufacturer has come into question. They always say change comes at the top, and now Samsung executives are starting to feel the pinch as well. A new report from The Korea Herald has said that some of Samsung’s highest paid executives have taken significant pay cuts in the light of the company’s struggles.
Samsung vice chairman Kwon Oh-hyun has taken a cut from 6.25 billion won last year to 3.82 billion won this year, CEO of consumer electronics Yoon Boo-keun dropped from 3.61 billion to 2.34 billion won and CEO of mobile business Shin Jong-kyun was the worst off of all with a drop from 12.03 billion to 2.28 billion won.
Now, these men are still being paid a ridiculous amount of money with still gargantuan bonuses -Â which shouldn’t be surprising since they still helm one of the biggest tech companies in the world – but it’s clear to see the effect poor financial performances have had on everyone at Samsung, particularly those in the mobile division.
What do you think about the pay cuts to Samsung executives? Let us know your thoughts in the comments below.
Source: The Korea Herald via SamMobile
