Updated April 19th, 2024 at 20:56 IST

Samsung in' Emergency Mode': Extra Workday Imposed on Employees

Samsung executives across all divisions have to work six days a week, said reports.

Reported by: Digital Desk
Samsung in' Emergency Mode' | Image:Unsplash
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New Delhi: At a time when companies are adopting four-day workweeks, tech giant Samsung is taking a rather unconventional approach by implementing a six-day workweek. If reports of the Korean Economic Daily are to be believed, Samsung executives across all divisions have to work six days a week.  

This decision comes amidst various challenges the company faces, such as increased oil prices, high borrowing costs, and the depreciation of the South Korean won.

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"Considering that performance of our major units, including Samsung Electronics Co., fell short of expectations in 2023, we are introducing the six-day work week for executives to inject a sense of crisis and make all-out efforts to overcome this crisis," a Samsung Group executive told the Daily.

Samsung's new six-day workweek schedule is already in effect across most of its technology divisions, with its financial services sectors anticipated to adopt it soon, as per The Korea Economic Daily. Moreover, some executives in other divisions have been voluntarily working six-day weeks since the beginning of the year, according to the report.

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Samsung is scheduled to release its first-quarter earnings for 2024 on April 30. However, in its previous earnings report, the company expressed cautious optimism regarding a potential rebound in smartphone demand for 2024. Moreover, Reuters recently reported that Samsung is anticipated to benefit from increasing semiconductor prices.
 

 

 


 

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Published April 19th, 2024 at 20:56 IST