Samsung to lay off thousands of people 5 years and the first large-scale layoffs

Keywords: Samsung Samsung Electronics Samsung layoffs redundancy layoffs of mass layoffs

The world's largest storage chip manufacturer Korea Sanxingdianzigongsi 18 to regulatory authorities submitted a report, April-September, the company has laid off employees, thousands of people, for the first time since 2002, the implementation of large-scale layoffs.

According to the Korea express social reports, Samsung in Korea to the Financial Supervisory Commission report said, as of the end of September this year, the company employs to 85269, and half years ago 86899 than 1630, including management staff reduced by 15%.

For such retrenchments, some observers in Samsung releases first quarter results after the anticipated. Samsung April Choi reported in the first quarter of this year, the company's net profit up 15% decline in sales revenue increase of just 3.1%. The second quarter, its profits decline situation has not reversed, when the quarter profit year-on-year decline of 5%, and 4 years minimum profit records.

Samsung will profit decline attributable to international market chips and flat panel monitors prices. It is related to statistics, the first two quarters of this year, chip market mainstream products, one of the dynamic RAM (DRAM) storage memory prices decreased by 19% and 37% in the third quarter decline in more than 50%.