Samsung managers will work 6 days a week from now on

Starting this week, Piet Korja company managers will have to work overtime on Saturdays or Sundays, reports Yahoo! Finance.

Taking into account the fact that the operating results of our main divisions, namely Samsung Electronics Co., in 2023 did not meet the expectations, we are leading to a working day for the managers, thereby creating a sense of crisis so that we can act during the crisis, said the head of Samsung Group to Korea Economic Daily.

The underperformance, along with other economic factors such as rising borrowing costs, Russia’s war in Ukraine and rising oil prices, reportedly forced the company to shift into crisis mode.

in 2023 Samsung’s financial results were the worst in a decade, and the Wall Street Journal reported that its net profit fell 73% in the fourth quarter.

The company’s semiconductor business, which accounts for about 80% of Samsung’s revenue, generated nearly $11 billion last year. USD loss.

Maybe that’s why, since the beginning of the year, some managers already work as volunteers 6 days a week.

Now Samsung Display, Samsung Electro-Mechanics Co. and Samsung SDS managers will have to work an extra working day, and in the near future the financial services departments of mons will have to follow their example.

lower level employees are not required to work on weekends. However, our spokesperson told the Korea Economic Daily that the company will monitor the situation and change its business strategy if necessary.

Next mons shortens the working week

Samsung’s 6-day work week falls into the global context. Most of the world is currently trying a shorter 4-day week.

In Great Britain last year, one of the world’s largest trials of a 4-day working week was carried out. During the experiment, the number of sick days decreased by 65%, employee productivity remained the same or increased slightly, and the probability that the employee would return to work decreased by 57%.

A similar test was also performed by the staff of the Lithuanian automobile technology company UAB OBDeleven. Last year, in July and January, our employees worked 4 days a week.

During the experiment, it was noticed that when working one day less, the employees felt that they could spend their personal time more freely. 90% of employees claimed that their work-life balance or mental health improved, and 78% of respondents claimed that work fatigue decreased.

However, the experiment showed that about 17% of the employees felt stressed, and almost half of the employees (45%) needed more than 2 days to adapt to a shorter work week and change their working hours.

At the beginning of this month, the acrylic fiber production plant became the first large plant in Turkey to permanently implement a 4-day work week and improved employee engagement and the ability to maintain work-life balance by 85%.

A week later, the Singaporean government told employers to consider employee benefits for the three-day weekend.

However, in South Korea, the government aims to make the working week longer, not shorter. Last year, the oil authority presented a plan that would lead to a 69-hour work week. However, the protests of the younger representative prompted the government to reconsider the issue.

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