According to a new report, Samsung is preparing to cut up to 10 percent of its headquarter employees.
The company will cut employees in human resources, public relations and finance in addition to other cost cutting measures that will start next year.
Samsung has been struggling for some time after an astronomical rise in the smartphone market just a few years ago. While still wildly popular, the company's new Galaxy S6 flagships have not lived up to lofty expectations and Samsung's stock has been hit hard. Overall smartphone shipments fell 3 percentage points in the Q2 2015, and Samsung also said it is no longer the top seller in China.
As of the end of the Q2, Samsung had 100,000 employees at its headquarters, so the layoffs could be significant if true.
Source:
Bloomberg
Samsung has been struggling for some time after an astronomical rise in the smartphone market just a few years ago. While still wildly popular, the company's new Galaxy S6 flagships have not lived up to lofty expectations and Samsung's stock has been hit hard. Overall smartphone shipments fell 3 percentage points in the Q2 2015, and Samsung also said it is no longer the top seller in China.
As of the end of the Q2, Samsung had 100,000 employees at its headquarters, so the layoffs could be significant if true.
Source:
Bloomberg
