Samsung prepares for 2015: downsizes

Lee Jun, head of communications at Samsung Group, told reporters after a weekly regular meeting of presidents of Samsung affiliates that; “As far as I know, each affiliate is conducting reshuffles of their staff, depending on its business situation,” according to a report in The Korea Herald. No numbers have been mentioned by the company, however, industry watchers predict that the company will reduce new jobs by some 10 percent in 2015. According to the information that Lee Jun provided, the downsizing will be based on the judgement of each company, and not driven/conducted by headquarters. Also, the company may reduce its new hirings this year, all depending on company earnings, the report continues. This might not come as a surprise as the company is taking measures to tackle a year which is expected to be as challenging as that of last year. The company has already stated that it will freeze wages for its Korean employees for 2015, which is a first since 2009.