CosmicTaco

Samsung to Lay Off Employees Amid Falling Sales and Rising Competition in India

CosmicTaco · 2024-09-11T12:05:54.319020+05:30

- Samsung is cutting jobs in its Indian unit due to disappointing sales and increased competition. - Layoffs may affect employees in sales, marketing, and operations, with job losses potentially reaching 20 percent of the workforce. - A restructuring is ongoing, impacting smartphone, consumer electronics, and home appliances divisions, leading to key executive exits. - Samsung has halted fresh hiring and may reduce off-roll employee count, while workers in its Chennai factory are on strike. - Aggressive competition from Xiaomi and Vivo, conflicts with offline retailers, and executive departures have compounded Samsung's struggles. Source: [Moneycontrol](https://www.moneycontrol.com/technology/samsung-to-layoff-employees-amid-falling-sales-rising-competition-in-india-article-12819041.html)

Samsung is cutting jobs in its Indian unit due to disappointing sales and increased competition.
Layoffs may affect employees in sales, marketing, and operations, with job losses potentially reaching 20 percent of the workforce.
A restructuring is ongoing, impacting smartphone, consumer electronics, and home appliances divisions, leading to key executive exits.
Samsung has halted fresh hiring and may reduce off-roll employee count, while workers in its Chennai factory are on strike.
Aggressive competition from Xiaomi and Vivo, conflicts with offline retailers, and executive departures have compounded Samsung's struggles.

Source: Moneycontrol