Almost 200 Samsung managers have opted to voluntarily return a quarter of their first-half bonuses in a bid to help mitigate the upcoming quarterly report, which will show a decline in profits and consumer demand. Samsung itself is facing some issues with slowing market growth and heightened levels of competition from the industry as a whole, leading to the company releasing an operating profit guidancefalling short of analysts’ predictions.
This decision to return parts of their bonuses is believed to have been partly a gesture to show managers taking responsibility for the decline in revenue, according to the report over on Reuters. Local media in South Korea reports that the combined total of returned bonuses would likely exceed 3 billion won ($2.92 million), which isn’t a bad donation to the company. Samsung will share its revenue report later this month for the previous quarter.
What do you make of the managers returning bonuses and how do you feel Samsung can effectively compete against Apple and other competitors
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