Samsung India to Lay Off Over 200 Executives

North News
Chandigarh, September 11

Samsung Electronics is set to lay off over 200 executives in India across its mobile phones and home appliances divisions due to slowing business growth and declining consumer demand. The layoffs come as the company faces challenges, including a loss of market share in its smartphone segment and ongoing strikes at its Chennai factory, affecting production ahead of the festive season, The Economic Times reported.

As part of its cost-cutting efforts, Samsung has frozen fresh hiring and may also reduce off-roll employee counts. Laid-off employees are reportedly being offered three months’ salary and an additional severance package based on their years of service. The company’s workforce reductions come after earlier senior-level exits this year in both its mobile and electronics divisions.