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Samsung workers in Vietnam bear brunt of slowdown in global demand for electronics - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.

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Samsung Electronics Co Ltd has scaled back production at its massive smartphone plant in Vietnam, employees say, as retailers and warehouses grapple with rising inventory amid a global fall in consumer spending.

America’s largest warehouse market is full and major US retailers such as Best Buy and Target Corp warn of slowing sales as shoppers tighten their belts after early COVID-era spending binges.

“We are going to work just three days per week, some lines are adjusting to a four-day workweek instead of six before, and of course no overtime is needed,” Pham Thi Thuong, a 28-year-old worker at the plant told Reuters. It is aiming for foldable phone sales to surpass that of its past flagship smartphone, the Galaxy Note, in the second half. It is expected to unveil its latest foldables on August 10.Thuong and her friends who have been working for Samsung for around five years said they had never seen deeper production cuts.

 

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