The new Galaxy models do not sell as expected.
According to a South Korean newspaper planning Samsung laying off 10 percent of the employees, ie nearly 10 000, at the head office in South Korea.
Do not met sales targets
newspaper writes that there is a majority in HR, PR and finance department who are affected by the cuts, arguing that the company is planning further cuts next year.
This happens in the wake of the launch of the Galaxy S6 and S6 Edge, who have not reached the sales figures Samsung wanted. At the same time the company fall in revenue for five consecutive quarters, and their market value has declined by $ 40 billion (over 300 billion) since April.
No short-term growth
> The analyst Chung Chang Won says that this move from Samsung suggests that they will not see big increases in growth in the coming years.
– Cutting jobs is the easiest way to control costs and Samsung expenses mobile the business can also be better controlled, says Chang Won.
Also read: Samsung really wants you to replace your iPhone.
Source: Bloomberg
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