Samsung Implements Six-Day Work Week for Managers in Response to Financial Struggles

Due to disappointing results, the managers of the technology manufacturer Samsung have to work six days a week. The move seems to be a strategic choice of the company.

In the news: Samsung introduces a six-day work week for its executives.

• The company is doing this in response to ongoing business uncertainty and last year’s disappointing financial results, with higher borrowing costs and rising oil prices as key economic concerns.
• The purpose of the measure is to “give management a sense of urgency and make every effort to overcome the current crisis,” a Samsung executive told reporters. Korea economic day.
• Executives from some Samsung divisions have been working voluntarily six days a week since the beginning of the year. Regular employees do not have to follow this rule.

Does this help Samsung?

Moved in: Samsung is in trouble because it is lagging behind the competition.

• The most competition in the market for high-bandwidth memory chips, which are essential for artificial intelligence applications, is now Samsung in difficult waters gives The South Korean SK Hynix is ​​doing particularly well, for example. Last year, Samsung had to register a loss of around 10 billion euros.
  • But the company recently reported a profit, the first in five quarters, due to a rebound in chip demand.
• The only question is whether an extra day of work will make much of a difference. Korea economic day note that the country’s economic situation is still difficult. Chemical manufacturers, who make raw materials for the chips, are also tightening their belts.
• In addition, the support measures announced by President Yoon Suk Yeol seem more difficult to achieve after the opposition won the April 10 elections.