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