Samsung has introduced a company-wide six-day workweek policy for executives. The company had disappointing financial results last year and is now trying to tackle ongoing business uncertainty. The new workweek policy aims to inject a sense of crisis as part of an all-out effort to overcome its current challenges. Employees under the executive level are not expected to follow suit. Samsung is facing increased competition in the production of high-bandwidth memory chips alongside wider economic concerns like rising borrowing costs and oil prices and a rapid depreciation of Korean currency.
Monday, April 22, 2024ByteDance would rather shut down TikTok than sell the company. The US only provides a quarter of TikTok's global revenue and only represents 5% of ByteDance's daily active users across all of its media platforms. The short deadline to sell would likely put downward pressure on any potential sale price, making the option even less appealing. Selling the company would mean divesting the algorithms that power TikTok and its video recommendations, which raises more complications.