Seoul - Samsung, South Korea's leading electronics company, will merge its four major departments into two groups as a response to the ongoing economic downturn, the company reported Friday.

The semiconductor and liquid crystal display (LCD) divisions will merge, as will the telecommunication and digital media divisions, according to the company.

The company also announced a series of staff changes, including plans to cut top managers' salaries by 20 per cent. Bonuses will also be reduced.

Samsung is the world's leading manufacturer of computer chips and flat-screen displays and the world's second largest manufacturer, behind Nokia, of mobile telephones. (dpa)