{"id":2562,"date":"2024-09-11T15:40:18","date_gmt":"2024-09-11T10:10:18","guid":{"rendered":"https:\/\/www.eqwires.com\/tutorials\/?p=2562"},"modified":"2024-09-11T15:40:20","modified_gmt":"2024-09-11T10:10:20","slug":"layoffs-2024-samsung-electronics-to-trim-9-10-workforce-in-india-as-consumer-demand-weakens-says-report","status":"publish","type":"post","link":"https:\/\/www.eqwires.com\/tutorials\/layoffs-2024-samsung-electronics-to-trim-9-10-workforce-in-india-as-consumer-demand-weakens-says-report\/","title":{"rendered":"Layoffs 2024: Samsung Electronics to trim 9-10% workforce in India, as consumer demand weakens, says report"},"content":{"rendered":"\n

Samsung Electronics is planning to lay off more than 200 executives across various functions in its Indian operations, The Economic Times <\/em>reported. The decision comes amid slowing business growth and weakening consumer demand in the country.<\/p>\n\n\n\n

The layoffs are expected to impact multiple departments, including mobile phones, consumer electronics, home appliances, and support functions. Industry sources suggest that this reduction could affect approximately 9-10% of Samsung’s managerial workforce in\u00a0India, the report added.<\/p>\n\n\n\n

According to the report, the company is offering affected employees a severance package that includes three months of salary as per their employment contract plus an additional month’s salary for each year of service, the report added.<\/p>\n\n\n\n

The news has sent ripples through the industry, with some executives reportedly seeking opportunities elsewhere. As one rival home appliance company CEO told ET, \u201cI have received frantic calls and resumes from\u00a0Samsung India\u00a0executives for jobs as some of the people who have been laid-off include senior executives as well who are ready to join us even at a substantial lower salary.”\u00a0<\/p>\n\n\n\n

This development coincides with ongoing labour unrest at Samsung’s\u00a0Chennai\u00a0factory. Workers there have been on strike for three consecutive days, disrupting the production of televisions, refrigerators, and washing machines. Despite the strike, Samsung is reportedly attempting to maintain operations at 50 per cent – 80 per cent of the plant’s capacity, as per the ET report.<\/p>\n\n\n\n

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Samsung Electronics is planning to lay off more than 200 executives across various functions in its Indian operations, The Economic Times reported. The decision comes amid slowing business growth and weakening consumer demand in the country. The layoffs are expected to impact multiple departments, including mobile phones, consumer electronics, home appliances, and support functions. Industry sources suggest that this reduction could affect approximately 9-10% of Samsung’s managerial workforce in\u00a0India, the report added. According to the report, the … Continue reading “Layoffs 2024: Samsung Electronics to trim 9-10% workforce in India, as consumer demand weakens, says report”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":2563,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[201,172,136,138,134,164,217,368,139,140,324,106,272,266,98,72,97,184,73,268,135,137,133,330,104,141,299,161,160,159,74,210,75,158,166,311,228,227,103,254,102,224,257,298,300,101,105,301,165,327,329,76,77,78,79,247,365,308,361,363,215,216,174,80,81,99,218,82,340,339,320,183,168,167,170,251,83,84,85,86,87,108,88,202,155,154,273,89,100,90,91,92,93,94,95,236,255,385,232,231,250,96,3,260,252,248,249,322,107,192,220,360,275,223,156,157,341,246,238,207,177,176,175],"tags":[4,5,267,6,200,7,12,116,19,149,147,173,145,14,118,11,150,153,265,120,9,271,190,191,13,188,18,318,8,185,316,10,17,269,148,151,146,15,331,319,16,122,144,162,23,41,25,24,27,21,194,50,312,229,226,124,33,253,126,225,119,20,258,28,297,49,127,315,121,230,295,125,115,22,113,29,328,333,317,332,334,314,52,123,131,348,366,357,309,310,359,362,354,349,351,364,213,26,182,111,130,31,62,34,30,42,219,57,112,186,169,56,171,64,132,206,59,53,264,128,43,336,242,237,51,110,32,187,35,55,44,270,288,196,47,37,195,45,39,36,40,203,38,143,152,129,142,46,48,63,67,60,61,65,234,71,235,54,256,117,386,233,68,193,241,335,205,261,263,209,262,337,244,66,204,70,109,259,221,291,274,222,163,69,58,342,239,208,114,178,181,179,180,290],"class_list":["post-2562","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-accurate-stock-tips-provider-in-india","category-best-advisory-service-provider-for-beginners","category-best-bank-nifty-future-calls","category-best-bank-nifty-options-tips-provider","category-best-bank-nifty-trading-tips-provider","category-best-equity-advisory-services-in-india","category-best-ethical-investment-advisor-in-india","category-best-financial-advisor-websites-in-india","category-best-index-future-services","category-best-index-options-services","category-best-intraday-advisor-in-india","category-best-intraday-call-provider","category-best-intraday-jackpot-calls","category-best-intraday-research-company","category-best-intraday-tips-for-tomorrow","category-best-intraday-tips-provider-in-india","category-best-intraday-tips-site","category-best-intraday-tips-website-in-india","category-best-investment-advisor-in-india","category-best-jackpot-tips-provider","category-best-nifty-future-calls","category-best-nifty-options-tips-provider","category-best-nifty-trading-tips-provider","category-best-option-trading-telegram-channel","category-best-options-tips-provider-in-india","category-best-options-trading-tips-provider-in-india","category-best-paid-stock-recommendation-sites-india","category-best-performing-pms-in-india","category-best-pms-in-india","category-best-portfolio-management-services-in-india","category-best-sebi-registered-advisory-company","category-best-sebi-registered-investment-advisor","category-best-sebi-registered-investment","category-best-sebi-registered-research-analyst","category-best-sebi-registered-stock-tips-provider","category-best-sebi-registered-telegram-channel","category-best-share-market-advisor-in-india","category-best-share-market-advisory-company-in-india","category-best-share-market-consultants-in-india","category-best-share-market-tips","category-best-share-market-tips-provider-in-india","category-best-share-tips-provider-in-india","category-best-stock-advisor","category-best-stock-advisor-websites-in-india","category-best-stock-advisory-service-in-india","category-best-stock-market-advisory-services-in-india","category-best-stock-market-tips-provider-service","category-best-stock-recommendation-service-in-india","category-best-stock-tips-provider-in-india","category-best-stock-tips-provider-in-telegram","category-best-telegram-channel-for-stock-market-tips-in-india","category-business","category-commodity-market","category-currency","category-equity-market","category-equity-research-analyst","category-eqwires-best-investment-advisor-in-india","category-eqwires-best-sebi-registered-investment-advisor-in-india","category-eqwires-best-stock-advisor-websites-in-india","category-eqwires-most-successful-stock-advisors-in-india","category-ethical-sebi-registered-investment-advisor","category-ethical-sebi-registered-research-analyst","category-fact-about-operator-based-calls","category-fii-based-calls","category-foreign-markets","category-free-intraday-stock-tips-for-tomorrow","category-genuine-intraday-tips-provider","category-genuine-stocks-tips-provider","category-googles-highest-ranking-sebi-registered-research-analyst","category-googles-highest-ranking-sebi-registered-stock-advisory-company","category-high-accuracy-intraday-tips","category-how-can-i-make-profit-in-intraday-trading","category-how-to-earn-profit-from-intraday-trading","category-how-to-invest-in-stock-market","category-how-to-make-profit-in-intraday-trading-in-share-market","category-intraday-tips","category-intraday-trading-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