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200+ Samsung India executives laid off due to slow growth, poor demand, and factory strike.
Samsung is laying off over 200 executives in India, impacting 9-10% of its managerial workforce due to slowing growth and poor consumer demand.
The cuts affect various sectors, including mobile phones and home appliances.
Employees will receive three months’ salary and a severance package.
The company is also considering restructuring operations and has frozen hiring amidst a strike at its Chennai factory, which has reduced production capacity.
7 months ago
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