Samsung is preparing to cut 10% of its staff at the company's main headquarters in Suwon, South Korea, according to a local newspaper. The move comes as Samsung's smartphones continue to underperform, resulting in five straight monthly declines in sales and $44 billion being wiped off the company's market value since April. Samsung is said to be targeting almost 10,000 employees in the HQ's human resources, public relations, and finance departments, according to the Korea Economic Daily. The paper added the company also plans to cut some expenses next year. Samsung recently dropped the price of the Galaxy S6 and S6 Edge after the devices didn't attract the sales that were previously expected. The company's stock raised 1.7 percent in Seoul after news of the cuts was released.