Even after Samsung rubbished claims about reducing its workforce, the company can’t seem to escape such reports. A new report from China claims that the South Korean consumer electronics giant is planning to cut jobs.
According to local media, Samsung is apparently planning to cut 1,000 jobs in China, which would affect around 9 percent of the company’s workforce. The report cited unidentified sources, but the officials from Samsung’s headquarters in Beijing were not available for comment.
The company’s net profit declined by 8 percent in the second quarter of this year due to intensified competition from local brands like Huawei and Xiaomi. Last month, Gartner reported that smartphone sales fell 4 percent in China, marking it as the first quarterly decline.