Samsung puts executives on a six-day work week

Line managers at Samsung and its subsidiaries are required to work six days a week . These measures are taken to cope with increased competition and global economic uncertainty.

Info Apr 21, 2024 0 229 Add to Reading List

Samsung puts executives on a six-day work week

In response to ongoing business uncertainty and disappointing 2023 financial results, Samsung is implementing a new corporate policy that includes a six-day work week for line managers. The decision also comes amid broader economic concerns, including oil prices and the depreciation of the Korean currency.

As noted by The Korea Economic Daily, the head of Samsung Group explained the move as follows: “In light of the performance of our key divisions, including Samsung Electronics Co., being below expectations in 2023, we have decided to introduce a six-day work week for executives. This will help create an atmosphere of crisis and mobilize all efforts to overcome it.”

Samsung also faces increased competition to produce high-performance chips needed for artificial intelligence computing. After suffering its worst financial year in a decade, the company posted its first profit in five quarters thanks to a rebound in demand for chips.

Despite the fact that the heads of some Samsung divisions have already voluntarily switched to a six-day work schedule since the beginning of the year, this policy will now apply to the heads of other subsidiaries.