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April 19, 2024 03:21 pm

Samsung Shifts To Emergency Mode With 6-day Work Week for Executives

Korean newspaper KED Global: Executives at all Samsung Group units will work six days a week from as early as this week in a shift to emergency mode. The move comes as the won's sharp depreciation, rising oil prices and high borrowing costs aggravate business uncertainties after some of the group's mainstay businesses delivered poorer-than-expected results in 2023. The executives of Samsung Electronics Co., including those in the manufacturing and sales divisions, will work either on Saturday or Sunday following the regular five-day work week, according to Samsung Group officials. They will review their business strategies and may modify them to adapt to the changing business environment amid mounting gepolitical risks from the prolonged war between Russia and Ukraine and escalating tensions in the Middle East. "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 it," said a Samsung Group company executive. Top management at Samsing Display Co., Samsung Electro-Mechanics Co. and Samsung SDS Co. will adopt the six-day work week as early as this week. Samsung Life Insurance Co. and other financial services firms under the Samsung Group will likely join them soon. Executives of Samsung C&T Corp., Samsung Heavy Industries Co. and Samsung E&A Co. have already been voluntarily working six days a week since the start of this year.

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