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

  • 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

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Samsung India Layoff

Have you heard the news that Samsung India is going to layoff more than 200 employees? Is Samsung under loss because they clearly do not look like that? I am very confused by this news. Please share some insights.