Samsung to curtail expenses, might even lay off some employees
According to a recent report, a number of top-end Samsung managers have decided to return their bonuses in order to aid the company in the impending battle against its ever-hungry rivals, which might make things even worse and a lot more difficult for Samsung. Another precaution that Samsung is said to be undertaking is pretty sound as well – a number of expenses and avoidable costs will be cut.
“Samsung is tightening its belt as it is forecast to face tougher competition in the global smartphone market.”Business trip expenses will be the first to go, as Sammy has allegedly procured talks with roughly 26 airline companies, which will pave the way for cheaper international flights. Its managers spent roughly $38 million for flying fees in 2013 alone, and the company hopes to save up to 20% this way in the future by flying on cheaper airlines.
Another set of speculative theories claims that Samsung might decide to cut down some labor costs. Said in plain language, this means that some employees might get the pink slip. This is just a rumor, fortunately, so we hope that we wouldn't have to report that a major company is showing the door to thousands of its workers once again.
Let's not forget that if Samsung wants to get back into the spotlight and regain what it lost, it has to re-evaluate its product strategy as soon as possible. The Galaxy Note 4 and the Galaxy Alpha already seem like they might be a step in the right direction, but until they get officially unveiled, nothing else could be said on the matter.
source: Korea Herald via Android Authority