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Samsung Freezes Employee Salaries


News by Luke Jones on Thursday February 26, 2015.

samsung news · industry news · luke jones

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Samsung
Samsung

I have written before that the continuing decline in Samsung's smartphone business will ultimately have an impact on the company's employees. Certainly, rumors have been circulating for some time that the South Korea giant will cut jobs during 2015. That would follow up on 30% of the smartphone division being cut last year, but Samsung has taken another drastic action of freezing employees' salaries this year.

When companies start looking to employees to save cash you know times are trying. Of course, Samsung still makes billions of dollars in profit, but the company suffered a demoralizing 2014 and the future is unclear in terms of continued market dominance. In other words, the good times are most definitely over.

Now, an unnamed Samsung official says that "the management and employees have reached an agreement on fixing wages." China's slowing economy is being offered as the main contributing factor.

 
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About the author

Luke Jones
Luke Jones is the Managing Editor at MobileBurn.com and is the person you need to speak to about the content on the site. Luke studied creative writing at degree level before carving out a reputation as a freelance tech writer. He settled here at MobileBurn, where he reviews devices and contributes to the news, as well as overseeing the site's content and direction.

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