Samsung recently released its financial results for the third quarter of 2015 which shows that the corporation is doing very well. Samsung income was as high as 45.6 billion dollars and a profit of $ 6.4 billion (82% more than in the same period last year). But it turns out that, everyone is not satisfied with these results.
As we have already mentioned, in the third quarter of 2015, Samsung for the first time since the launch of the Galaxy S4 smartphone recorded an increase in revenues. Of course, this does not mean that before Koreans were facing a great loss. Last month, in order to receive the positive appreciation from the shareholders and to increase their expectations for the future. The Board has decided to take further steps as they don’t want to disappoint them and trying to advance further improve the situation of the company. For this purpose, to be carried out cost reduction.
“Samsung’s top priority is to save costs. Average workers with mediocre performance are being advised to leave the company with a sizable compensation,” one official told the outlet.
Unfortunately, it has taken the form of layoffs, and some say that will cover up to 30% of the workforce. When talking about such a large corporation like Samsung, it’s about a really large number of people. Initially the board did not want to take too radical steps and first began to convince older workers to retire in exchange for additional profits. The same also applies to those of the worst results. A more decisive action to be carried out in the next few months, and the official statement effect should appear in December. It is also envisaged that major changes will also occur in management positions, where the elder will be replaced by younger ones.