Samsung reduces output around the world, Samsung has drastically cut the number of its products that are made in Vietnam. Customers can’t get new products, so the company’s income has been going down.
Even though most merchants say sales will be bad in the coming months, the biggest warehouse market in the United States is already full. This is because there are already too many items on the market.
Employees of the plant told Reuters that:
We’ll be working four days a week instead of the six we’ve been doing, and other departments will switch to a four-day schedule instead of the six they’ve been on. There won’t be any need to work overtime, either.
The fact that people are spending less money around the world has hurt factories’ ability to make things. Workers can now spend less time at work each week, and they only have to be there three days a week.
Samsung is the foreign company with the most presence and power in Vietnam. Vietnam makes half of Samsung’s products. This is because the country has low labor costs and two Samsung plants. This country has had more people killed than any other country in the world.
Even though the situation in Vietnam is already showing signs of getting better, Samsung thinks that the setback won’t affect the company’s annual output. According to the South Korean multinational company, the supply problem has been getting better since last week. In addition, they said that earnings would either stay the same or go up a little bit.