Job Cuts
World Economy

Job Cuts

Samsung Electronics Co. is preparing to cut 10% of workers at its headquarters, according to a Korean newspaper, as the world’s biggest smartphone maker loses sales to Apple Inc. and Chinese vendors, Yonhap reported. Samsung is targeting workers in the human resources, public relations and finance departments, Korea Economic Daily reported Tuesday, citing people it didn’t identify. The Suwon, South Korea-based company also plans to cut some expenses next year, the report added. Samsung declined to comment in an e-mail. The moves come after new high-end Galaxy smartphones failed to impress consumers, triggering five straight monthly declines and wiping out more than $40 billion in Samsung’s market value since April.

Short URL : https://goo.gl/On84PK
  1. https://goo.gl/OEsgsg
  • https://goo.gl/DTLIz3
  • https://goo.gl/wbxfdS
  • https://goo.gl/1Fx8Vl
  • https://goo.gl/EnnbnW

You can also read ...

Chinese Premier Li Keqiang (C) shakes hands with Jean-Claude Juncker (L) and Donald Tusk after the meeting in Beijing on Monday.
China could open its economy if it wished, European Commission...
Global Growth Peaks With a Whimper
It wasn’t runaway inflation or a financial implosion. The...
An expanding trade war threatens to squeeze incomes.
The untold story of the world economy—so far at least—is the...
Turkey Budget Deficit Expands
Turkey’s central government budget balance recorded a deficit...
Asian Stocks Retreat, European Shares Mixed
Asian stocks closed lower on Monday as investors digested the...
Russia has been seeking ways of decreasing dependence  on the US currency.
One of Russia’s largest banks, VTB is seeking to decrease the...
Experts Say China Can Cope With Uncertain H2
China is confident it can cope with a more uncertain second...
PwC Says Australian Firms Deliberately Going Broke
Companies that deliberately fail are costing the Australian...