SamMobile has affiliate and sponsored partnerships. If you buy something through one of these links, we may earn a commission. Learn more.

Samsung to reduce workforce by 10 percent at its headquarters

General
By 

Last updated: September 8th, 2015 at 10:01 UTC+02:00

According to a Korean newspaper Samsung is gearing up to reduce the workforce at its headquarters by 10 percent as it feels the pinch from Apple in the high-end market segment and from Chinese vendors in the mid-range and low-end segment. The report claims that Samsung will be targeting the layoffs in human resources, finance and public relations departments, the company is also reportedly going to cut additional expenses in the coming year. As of June 30th the company had some 98,999 employees at its headquarters so a 10% reduction would leave quite a few people out of a job.

Samsung is likely making these cost cutting moves following the rapid decline in its market value, it has lost some $40 billion in market value since April this year, given that the Galaxy S6 and the Galaxy S6 edge didn’t exactly do much to turn the company’s fortunes around. Samsung’s share of global smartphone shipments is also down by 3 percentage points in the second quarter and it has been dethroned as the top vendor in China, which happens to be the biggest mobile-phone market in the world. It’s certainly a challenging time for the Korean company.

Via

General Samsung
Load 16 comments

You might also like

Samsung to use more LG batteries in its low-end and premium phones

Samsung may have driven LG out of the smartphone market, but it’s more than happy to source components from LG’s battery division for its own smartphones. A new report out of South Korea claims that Samsung is looking to source more batteries from its historic rival. The company is reportedly willing to use LG batteries […]

  • By Adnan Farooqui
  • 2 months ago

Samsung and Apple jointly hold 60% of global tablet market share

According to the latest report by market research firm Strategy Analytics, Samsung and Apple jointly hold 60% of the global tablet market share. Samsung led the Android tablet market with 8.2 million units in Q1 2022, suffering only a 1.2% decline compared to the same period last year. However, Samsung saw its market share increase […]

  • By Sagar Naresh
  • 3 months ago

New WhatsApp update adds extra layer of privacy to chats

The latest WhatsApp update for Android and iOS adds another layer of privacy for disappearing chats. Media sent in chats with disappearing messages enabled will not be saved on the phone’s gallery by default (via WABetainfo). Essentially, anyone trying to view media contained in a disappearing chat outside of WhatsApp will be unable to do […]

  • By Anil Ganti
  • 4 months ago

WhatsApp voice messaging is about to get a whole lot better

On Wednesday, WhatsApp announced that it is bringing a bunch of new features to voice messages. These features will make it easier for users to make use of voice messages and communicate with their contacts on WhatsApp. Notably, the company is introducing six major improvements to voice messaging support, aimed at making the overall voice […]

  • By Sagar Naresh
  • 4 months ago

Samsung aims to dominate the mid-tier smartphone market in India

There are a plethora of Samsung smartphones in the mid-tier smartphone category on offer in India. The company has launched more affordable phones and has plans to expand its portfolio. The main idea behind this move is that Samsung wants to get a larger chunk of the mid-tier smartphone market in the country. Notably, according […]

  • By Sagar Naresh
  • 5 months ago

Realme to be the first to ship phone with Samsung’s newest 108MP sensor

Chinese smartphone brand Realme has announced that its new flagship, the Realme 9 (4G), will ship with a 108MP Samsung ISOCELL HM6 image sensor. This will be the company’s second smartphone to come with a 108MP image sensor. Notably, the Realme 8 Pro was the previous device. However, it came with the Samsung ISOCELL HM2. […]

  • By Sagar Naresh
  • 5 months ago