Samsung India to lay off 200+ executives amid slowing growth, challenges

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Samsung India to lay off 200+ executives amid slowing growth, challenges - Business Standard

Quick Summary:

As part of its cost-cutting measures, Samsung may also restructure its Indian operations by merging certain business divisions, such as television and home appliances.

Struggles of the South Korean tech major are particularly evident in the competitive smartphone market, where the company has lost volume leadership to Chinese competitor Xiaomi.

In response to the news, a Samsung India spokesperson told ET, “We are reorganising our workforce with the objective of enhancing organisational performance and increasing market competitiveness.