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Samsung expected to layoff up to 30% of the workforce to save costs

By Cookie Monster - on 1 Nov 2015, 6:00pm

Samsung expected to layoff up to 30% of the workforce to save costs

 Image source: Forbes

 

Although Samsung is back on track with its first profit growth in two years, the company aims to become leaner and cut costs by laying off up to 30% of its workforce.

According to The Korea Times, Samsung officials said that the company's top priority is to cut costs and "average workers with mediocre performance" are advised to leave. Employees in finance, human resources and marketing are likely to be asked to leave by joining the "voluntary retirement system". 

Samsung is also bringing forward the launch of the Galaxy S7 to January 2016 and plans to completely revamp its smartphone strategy. Its mobile division is expected to face tougher competition next year from Apple and other Chinese phone manufacturers.

Source: The Korea Times via GSMArena

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