Samsung Electronics plans to lay off over 200 Indian employees to reduce costs, details inside

• Samsung will lay off over 200 people in India
• Employees across various departments will be affected
• Affected employees will receive three months of salary

The tech industry has seen a wave of layoffs in the recent months and another company has now joined the fray. Samsung Electronics, known across the world for its smartphones, appliances, and much more, has now decided to cut more than 200 jobs in India. The layoffs come at a time when the company is grappling with lesser sales due to lower consumer demand, a report in ET reveals.

Samsung plans to lay off people in India

Industry insiders told ET that the layoffs will affect various departments including mobile phones, home appliances, and consumer electronics. The cuts are part of Samsung’s broader effort to lower costs and maintain profitability during this challenging period.

The layoffs represent around 9-10 percent of Samsung’s managerial staff in India, where the company employs about 2,000 executives. Those affected will receive three months’ salary along with a severance package offering one month’s salary for every year of service.

Samsung's restructuring plans

As part of its cost-cutting measures, Samsung is also considering merging some of its business divisions, such as television and home appliances. This restructuring, which aims to streamline operations and reduce inefficiencies, could lead to further layoffs. While no official decision has been made yet, reports suggest that the final plan will be confirmed after Diwali, a key festival season in India.

The report also mentioned that Samsung has already frozen new hires, and positions left vacant by executives who have resigned are not being filled. Additionally, the company is expected to reduce the number of off-roll employees to further cut costs.