Samsung Layoffs: 200 Jobs To Be Cut In India Amid Slowdown, Says Report | Economy News

The layoffs will affect Samsung’s mobile phone, consumer electronics, home appliances and support division which will be around 9-10 per cent of its total managerial staff, according to the report. Employees who are being let go are being offered three months’ salary, as per their contracts along with a severance package that includes one month for each year they’ve worked with the company. 

According to the report, the CEO of a competing home appliance company mentioned receiving “frantic calls” and resumes from Samsung India Executives seeking new jobs. He also noted that some of the laid-off employees are senior executives many of whom are willing to accept positions at significantly lower salaries.

Samsung India workers strike

Meanwhile, workers at Samsung’s Chennai factory are on their third day of an indefinite strike, disrupting production of televisions, refrigerators, and washing machines just ahead of the festive season. Despite the strike, Samsung is trying to keep the factory running but production has dropped to around 50-80 per cent of its normal capacity, according to Reuters.

Along with layoffs, Samsung is reportedly considering restructuring its operations in India. This could involve merging business divisions like television and home appliances, potentially leading to more job cuts. The goal of the restructuring is to streamline operations by reducing management layers, workforce, and overhead costs. A final decision on these changes is expected after the Diwali season.