Posted by Abhijeet M. 5 months ago

Samsung managers return part of bonuses amidst company’s weak financial results


Follow: Phones
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Samsung recently announced that it is expecting a weak financial quarter with reduced profits, and now, a report from Reuters has revealed that almost 200 Samsung managers have opted to voluntarily return a quarter of their first-half bonuses. The managers are reportedly doing this as a gesture to show that they are taking responsibility for the earnings decline, and partly to indicate that the management will work harder. The returned bonuses are likely to exceed 3 billion won ($2.92 million)

It might seem odd, but top employees returning their bonuses isn’t a phenomenon uncommon in South Korea. Hopefully, Samsung’s management can take the weak quarter as a sign that major changes are required in the company’s strategy, especially when it comes to the huge competition it is facing from Chinese manufacturers, who are spelling troubles for major OEMs by offering better value in smartphones for lower prices, especially in the low-end and mid-range segments.

ViaSource

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5 comments on “Samsung managers return part of bonuses amidst company’s weak financial results

  1. shm224 5 months ago said:

    this is crazy. the company still made $7+B; it’s down YoY, but still one of the highest profit in the company history.

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  2. ericarenee 5 months ago said:

    American CEO s and Big Company Officials Could Lean a few things from this. Taking responsibility of a Problem and Ownership to Repair them. Of course this goes the same for Companies to Give the Employees A sense of Security.. I just hope they fix this By Creating better and more desirable and Affordable products . NOT By Cutting Factory workers PAY and Cutting Quality.

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  3. lfo 5 months ago said:

    first give priority to customers who buy mobiles and support them otherwise company will not make good results.

    there are some many Chinese phones manufacturers why they can’t beat apple iphone? only one product you have hell no of products. whatever company comes in market if you give good support to customer providing proper updates and stop only support to high end mobiles and that foolishness is what make your loss the company value now.

    I move to moto x from samsung S3 why? no proper updates and had some much trouble when i updated to 4.3

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  4. estugarda 5 months ago said:

    Samsung stops caring for customers the same moment you buy a Samsung product. Once you buy a product, a newer model is already out. Updates get intentionally hindered, and the whole knox thing is BS, and just another mean of intentional shortening of product’s life, so you get forced to buy a new one. The whole system is a bubble, and it will burst sooner or later. The shame is that the products are actually good, and some actual support would make them better a and stronger.

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  5. coopermack 5 months ago said:

    They could save more money if they sacked their useless customer support team. They have never been able to fix any of my problems. Im sure they purposely screw you around untill you give up and get help elsewhere.

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