LG lays off 30% of its mobile employees overseas

LG has cut 30% of its overseas mobile staff as a result of the division’s recent poor performance, Reuters reported on Thursday. Korea Economic Daily broke the news and noted LG’s layoffs mostly included employees in the purchases and mobile marketing departments, and in unprofitable groups. LG said the Korea Economic Daily report was speculation, but the Korean news outlet noted that LG is planning to layoff members of its mobile business team in Korea, too. LG’s mobile business grew during the second quarter of this year but the division still failed to turn a profit. The mobile arm reported a $49.8 million loss on sales of $3 billion last quarter.

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