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

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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.

Via | Source

Abhijeet Mishra - Editor-in-Chief

[email protected]

First Samsung device: SGH-D500

Abhijeet's writing career started with guides for custom firmware for Samsung devices (including the original Galaxy S), and he moved to SamMobile in mid-2013 and worked up the ranks to Editor-in-chief. In addition to phones and mobile devices, his interests include gaming on both PC and console, PC hardware, and spending countless hours on YouTube watching videos on tech, movies, games, politics, and internet dramas.

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

Abhijeet Mishra - Editor-in-Chief

[email protected]

First Samsung device: SGH-D500

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