This would appear to be bad timing from Samsung, coming on the eve of Apple’s iPhone event tomorrow. Ten percent of Samsung’s workforce equates to roughly 10,000 employees. That’s a significant cut in anyone’s books.

Samsung’s problems have been two-fold — price pressure and the iPhone. Other Android manufacturers have stepped up their game in offering high quality smartphones at cheaper prices. On top of that, Apple introduced the iPhone 6 and iPhone 6 Plus last fall with bigger screens. Needless to say … they sold like hotcakes.

Samsung’s decline in the smartphone market has been alarmingly rapid, from their peak barely two years ago to this.