Samsung Electronics to Freeze Salaries of its Employees

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Samsung Electronics to Freeze Salaries of its Employees

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It doesn’t matter how aggressively Samsung retorts to challenge reports by analysis firms reporting it losing its stronghold in the market; reality cannot be concealed for long. Unfortunately, the company is currently in hot waters and is suffering a financial setback.

As per a developing report by Reuters, Samsung Electronics will freeze the salaries of their employees this year, as per a statement by the spokeswoman of Samsung. It is the first time the South Korean organisation has taken such a step since 2009. The company representative didn’t throw light on what made the company take such a drastic step.

Samsung is undergoing a rough patch as its profits declined substantially in 2014. It was the first time in three years that its earnings took a downward turn. Well, we have high hopes from the upcoming Galaxy S6 to be launched at the Mobile World Conference. If that turns out to be a hit, it might help Samsung regain its position as one of the top smartphone manufacturers in the world.

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Meenakshi Rawat
iGyaan's newbie Meenakshi handles content at iGyaan. She is an ultimate foodie, loves travelling and likes to read.