Samsung Electronics is reportedly considering laying off at least 200 executives from its India team, across various functions including support, home appliances, mobile phones, and consumer electronics. This represents around nine percent of its 2,000-strong managerial team. The company’s decision is attributed to low demand, which has resulted in India’s slow business growth.
The affected executives will receive three months’ salary, as stipulated in their employment contracts, along with a severance payment equivalent to one month’s salary for each year of service.
This layoff news coincides with worker unrest in South India. Approximately half of Samsung India’s 1,800-member workforce in Siperumbudur, Chennai, has initiated an indefinite strike, demanding improved wages, better working hours, and official recognition of their union. This strike is particularly disruptive as it precedes the festive season, impacting the company’s production and revenues.
Adding to the company’s challenges, Samsung has reportedly lost several senior talents to competitors in recent times.
