Samsung accelerates executive reshuffle to address poor business performance and semiconductor challenges.

Samsung plans a major personnel reshuffle this week, starting as early as Wednesday, to address its sluggish business performance. The company began laying off executives in its chip business on Monday and is accelerating the reshuffle from its usual early December schedule. This move aims to tackle disappointing earnings and a challenging outlook for the semiconductor industry. Samsung's CEO, Lee Jae-yong, acknowledged these challenges and plans a global strategy meeting in mid-December.

November 25, 2024
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