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LG Cuts 30% Of Overseas Mobile Phone Staff

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Sep 8, 2011, 7:22 AM by Eric M. Zeman

According to a media report cited by Reuters, LG has cut 30% of the workers in its mobile phone division who were located in markets outside of Korea. The cuts were mainly in LG's mobile marketing and purchasing resources, but also included the closure of several unprofitable outlets. The report indicated that LG plans similar cuts in its home market. LG has lost ground in the mobile phone market in the last year or so, and has racked up five consecutive quarterly losses. LG declined to comment on the report.

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