Samsung cut 1,600 jobs
Samsung Electronics Co. cut more than 1,600 employees between March and the end of September, according to a report Sunday from The Korea Times. The report cites data from the Financial Supervisory Service, a Korea financial watchdog, and states Samsung had 85,269 workers as of the end of September, down 1,630 from the 86,899 workers the Seoul-based company had as of March.
The data also claimed that the number of high-ranking officials at Samsung also declined by 15 to 821 during the six month period. While Samsung has seen some recent positive news—including a solid Q3, and being noted as one the healthiest companies in the mobile phone market and as the top company in a recent overall flat panel TV ranking—the electronics giant is not without troubles: many of the technology markets it plays in have seen severe pricing pressure and have been hurt by overcapacity, in particular memory.
Further, a sixth Samsung executive in April agreed to plead guilty in the United States Department of Justice proceedings on the global DRAM price-fixing conspiracy. And a short power outage in August at Samsung’s plant in Giheung, South Korea, forced the company to shut down six of its chip production lines at an estimated cost of US$54.1 million.
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