Samsung Switches to Six-Day Workweeks Amid Challenges
Samsung, a global technology leader renowned not only for its financial success but also for its prestige, seems to have initiated a crisis mode operation as it faces various challenges.
Unlike many companies contemplating the adoption of a four-day workweek, Samsung has opted for a different direction by instituting a six-day workweek for its senior employees, according to reports from Asian media sources including the Korea Economic Daily.
This unusual decision was prompted by several hurdles Samsung is currently facing, such as rising oil prices, increased borrowing costs, and the devaluation of the South Korean currency.
"In light of our main divisions, including Samsung Electronics, not performing as expected last year, we are introducing a six-day workweek for leaders to experience the crisis themselves and take all necessary actions to overcome it," a top executive at Samsung Group was quoted by the newspaper.
Leaders of various divisions within the conglomerate have been voluntarily working six days a week since the beginning of the year, but now the directive explicitly includes top officials at Samsung Electronics, Samsung SDI, and Samsung SDS.
The additional workday can be either on Saturday or Sunday, at the executives' discretion.
This new mandate does not apply to those below the executive level, who will continue working five days a week, a standard that has been in place at Samsung since 2003.
Despite 2023 not unfolding as Samsung had planned, the company regained its position as the world's top mobile phone seller in the first quarter of 2024. Samsung is set to release its first-quarter results on April 30, expressing cautious optimism about the potential uptick in smartphone demand. However, this represents just one aspect of the company's diverse portfolio.