Samsung has invested in a German company and taken over all patents. As “Bloomberg” reports, the company paid 300 million US dollars to buy up all the ideas of the start-up Cynora. Cynora has evolved into developing special display techniques. Among other things, these should make displays more efficient but also more flexible. Samsung in particular could benefit here with its own folding smartphones.
However, the employees will probably also be left out in the cold when the company is taken over. Because, as is further reported, Samsung should have no interest in the local employees. All employees – including engineers – are said to have already been fired.
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After a request from CHIP, Samsung has not yet commented on the reports. Should this change, we will supplement the statement at this point.
However, other sources have already confirmed the layoffs at Cynora. For example, the mayor of Bruchsal, where Cynora was previously based, says to the Badische Neue Nachrichten: “We are horrified, shocked. I’m very disappointed in this big industry shark tank.”
Cynora founder Michael Bächle also confirms: “Yes, we have to lay off all employees.” According to this, around 120 specialists are now said to be without a job. However, one is certain that thanks to their expertise, people would quickly find jobs again.
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The original of this article “120 start-up employees lose jobs after purchase by Samsung” comes from chip.de.