What you should know
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- Samsung has reclaimed global smartphone leadership from Apple and is preparing to release its first-quarter earnings results on April 30, with optimism about a rebound in smartphone demand.
- The company is reportedly moving towards a six-day workweek for executives across its divisions to address challenges such as rising oil prices, high borrowing costs, and the depreciation of the South Korean won.
- An executive from Samsung Group cited the performance of major units, including Samsung Electronics Co., falling short of expectations in 2023 as a reason for introducing the six-day workweek to instill a sense of crisis and effort to overcome challenges.
- While executives will have the option to work either Saturday or Sunday, non-executive employees will continue with a five-day workweek, highlighting a difference in work schedules within the company.
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Full Story
Oh, so you caught wind of Samsung edging out Apple, reclaiming the throne in the global smartphone arena just a few days back? Interesting times, huh? You’ve even gone to the lengths of sprucing up your CV, eyeing a spot in the corporate world. But hold up a sec, is jumping ship really the wisest move right now? Have you considered the grind of a six-day workweek?
Honestly, I’ve got no clue about your current professional standing. Maybe you’re on the hunt for a job, or perhaps comfortably nested in a role that suits you. Heck, you might be part of a forward-thinking crew, basking in the glory of a four-day workweek. Unfortunately, if you were eyeing Samsung as your next career move, I’ve got some news. They’re not boarding that train. In fact, they’re chugging full steam ahead in the complete opposite direction.
Yep, you heard that right. According to the folks over at Business Insider, Samsung’s dialing up the heat. They’re rolling out a six-day workweek across the board for their execs. And it’s all kicking off as early as this week, if Asian media outlets are to be believed. Why, you ask? Well, it seems like they’re facing a bit of a storm – rising oil prices, the cost of borrowing money through the roof, and the South Korean won taking a nosedive. It’s gotten to the point where Samsung’s hitting the panic button, declaring an “emergency mode.”
One of the bigwigs over at Samsung Group shed some light on the situation. They mentioned how the performance of their key units, including the heavyweight Samsung Electronics Co., didn’t exactly hit the mark in 2023. So, they’re rallying the troops, pushing for a six-day hustle among the executive ranks. The goal? To stir up a sense of urgency and tackle this crisis head-on.
From what’s been said, it looks like some of the execs in other divisions had already been putting in six-day weeks since the year’s start. As for the Samsung Electronics big shots, they’ve got a choice to make between working Saturdays or Sundays. Meanwhile, the rest of the gang sticks to the regular five-day grind.
Despite the hurdles they’ve faced in 2023, Samsung managed to claw its way back to the top, dominating global smartphone shipments in the early months of 2024. They’re gearing up to spill the beans on their first-quarter earnings come April 30. And from the sounds of it, they’re cautiously hopeful about smartphone demand picking up as the year unfolds.
