Samsung to overhaul job ranking system for first time in 5 years

Samsung Electronics will overhaul its job ranking system for the first time in five years, Samsung Electronics said Friday. The move is seen as part of Vice Chairman Lee Jae-yong’s plan to create a new Samsung one year after his father’s death.

According to the company, the tech giant posted an internal message saying it would revise its evaluation and promotion system.

“The change will be completed within this month and an official announcement will be made,” a company official said.

The last time Samsung Electronics changed its job ranking system, five years ago, its seven ranks were reduced to four: assistant, professional, senior professional and principal professional.

While details remain unclear, another Samsung Electronics official hinted that the new system might be less hierarchical.

Though not final, the changes reportedly also entail plans to improve working conditions in line with the expectations of younger employees. Samsung Electronics said it would also listen to the union before finalizing the changes.

Meanwhile, Lee is expected to visit the US to finalize the selection of a site for the firm’s new chip foundry.

By Kim Byung-wook (kbw@heraldcorp.com)