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Last updated: October 31st, 2015 at 08:38 UTC+01:00
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The official adds that this latest downsize corresponds to a plan to reduce workforce in countries where Samsung operates manufacturing plants, with human resource officials at those units said to be meeting with employees to persuade them to join the “voluntary retirement system.” It's unclear how much of its workforce Samsung is going to trim, industry watchers are of the view that Samsung Electronics may let go up to 30 percent of its workforce concentrated in marketing, finance and human resource divisions. This move comes at a time when Samsung has posted its first quarterly operating profit growth after seven straight quarters of decline and the initiation of a massive $9.9 billion share buyback program. The scribe reached Samsung for an on-the-record comment on this matter but the company said it had no comment about layoff plans.
Adnan Farooqui is a long-term writer at SamMobile. Based in Pakistan, his interests include technology, finance, Swiss watches and Formula 1. His tendency to write long posts betrays his inclination to being a man of few words.
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