Samsung May Lay Off 10,000 of their Employees

[dgstorm]

According to a report fromThe Korea Economic Daily, Samsung is planning a major shift in their strategy to combat their declining market share. Supposedly, Samsung intends to cut back on general expenses by as much as 50% next year. A big part of that strategy will be to lay off 10% of their work force. This basically amounts to laying off 10,000 employees. The layoffs will primarily be in Sammy's finance, personnel, and public relations departments.

What do you guys think of Samsung's new strategy? I am sure there are at least 10,000 people who won't like it if it turns out to be true.

 

[leeshor]

Samsung is a mega company. Their Samsung Heavy Industries operation, which is huge, probably wouldn't even notice. They are one of the largest ship builders in the world.

 

[Jonny Kansas]

Gotta agree with Lee for sure. Has it been clarified whether this is SAMSUNG ELECTRONICS, with all of their TVs, appliances, and everything else or just SAMSUNG MOBILE? Sounds to me like ELECTRONICS as a whole, but I could be missing something.

Even if it was just the mobile division, they're smart to cut employees now while they're still in the position they're in to combat their decline in sales than to wait until it's too late to make any difference in their revenue.

 

[tech_head]

Not rumor.
On the news this morning.

 

[Mustang02]

Not rumor.
On the news this morning.

Link? I see nothing on CNN, FOX, Reuters, etc.

I do see BGR reporting it.