Samsung’s Executives Not Safe In Their Jobs After All
Samsung’s mobile unit saw some serious changes this week. We reported that the company’s reshuffle wasn’t as harsh as expected but some of Samsung’s executives in the department have been shown the door. The IT and mobile communications business had about 200 executives in it’s employment and it wasn’t made clear how many were pushed out and how many were shuffled around within the business.
Wednesday saw some serious job losses as vice presidents, senior vice presidents and executive vice presidents,were given their marching orders. The Wall Street Journal reported that Lee Seung-woo, an analyst with IBK Securities in Seoul said “Samsung had been working to reach an annual smartphone sales target of 500 million [units] in the long term, but that now looks difficult to achieve. Under the assumption that any big growth is unlikely next year, some staff could get reassigned to different business units”