Samsung has had a year of ups and downs – all of the Korean manufacturer’s flagship smartphones have been received extremely well by both media and consumers, however that hasn’t been enough to help its bottom line and attention is again being turned to what Samsung intends to do to right the ship. In a report by The Korea Times today, Samsung officials have pointed to streamlining the company, specifically:
“Samsung’s top priority is to save costs. Average workers with mediocre performance are being advised to leave the company with a sizable compensation.”
That probably sounds pretty cruel, but when the going gets tough, a company’s responsibility is to its investors and succeeding at that means keeping the cream of the crop. It’s alleged that Samsung is also asking individuals to take part in a “voluntary retirement system”. Analysts are expecting Samsung to downsize by cutting 30% of its workforce, a significant markup on the 10% that was rumoured just last month – we’ll just have to see whether Samsung denies these reports this time (or calls them relocations), but it seems likely that Samsung is going to have to lay off some of its workforce sooner or later.
What do you think about the layoffs at Samsung? Let us know your thoughts in the comments below.
Source: The Korea Times via BGR
