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.

September 11, 2024
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