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Samsung to cut 10pc of headquarters staff, says newspaper

Samsung Electronics is preparing to cut 10 percent of workers at its headquarters, according to a Korean newspaper, as the world’s biggest smartphone maker loses sales to Apple and Chinese vendors.

Samsung is targeting workers in the human resources, public relations and finance departments, Korea Economic Daily reported on Tuesday, citing people it didn’t identify. The company also plans to cut some expenses next year, the report added. Samsung declined to comment in an e-mail.

The moves come after new high-end Galaxy smartphones failed to impress consumers, triggering five straight monthly declines and wiping out more than USD40 billion in Samsung’s market value since April. The company’s share of global smartphone shipments fell more than 3 percentage points in the second quarter, and it’s no longer the top seller in China, the world’s biggest mobile-phone market.