Executives across the Samsung Group will work six days a week due to a shift to emergency mode, reflecting the company’s response to a confluence of economic and business challenges. The abrupt change follows a turbulent period marked by the sharp depreciation of the Korean won, rising oil prices, and high borrowing costs. This move comes as some of Samsung’s key business units reported lower-than-expected results for 2023.
Samsung Electronics Co. executives, encompassing heads of production and sales units, will begin working either Saturday or Sunday in addition to the standard five-day workweek, according to Samsung Group officials. This adjustment is part of a comprehensive plan to address the shifting business environment and mitigate risks arising from geopolitical events, including the ongoing Russia-Ukraine conflict and growing tensions in the Middle East.
“Given that the performance of our major divisions, including Samsung Electronics, fell short of expectations in 2023, we are introducing a six-day work week for executives to evoke a sense of crisis and make every effort to overcome it,” a Samsung Group executive noted.
Top management at Samsung Display Co., Samsung Electro-Mechanics Co., and Samsung SDS Co. will join this new schedule as early as this week. Additionally, Samsung Life Insurance Co. and other financial subsidiaries under the Samsung Group are expected to follow suit soon. Meanwhile, executives at Samsung C&T Corp., Samsung Heavy Industries Co., and Samsung E&A Co. have already been working on this schedule since the start of the year.
Despite the extension to a six-day workweek for executives, Samsung employees below management level will maintain the standard five-day workweek, a policy that has been in place since 2003. The re-introduction of a six-day workweek aims to align executive strategies with the changing landscape and foster innovative solutions to navigate emerging business risks.
For more information, check out the original report at KED Global.