Samsung India is reportedly gearing up to lay off employees across various departments due to falling sales and rising competition.
What Happened: The job cuts could be in the “high single digits", while one person stated that the layoffs could affect up to 20% of the Indian workforce, Moneycontrol reported. The impending layoffs could impact departments such as sales, marketing and operations.
The development comes as Samsung’s sales in India have been underwhelming, resulting in a significant drop in the company’s value and volume market share, hitting their lowest in a decade.
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A restructuring process is currently in progress, which might lead to the departure of some key executives from the company. The company is reorganising its workforce to bolster organisational performance and enhance market competitiveness, Moneycontrol reported, citing a spokesperson for Samsung India.
The company’s struggles in India have been compounded by fierce competition from brands like Xiaomi and Vivo, disputes with offline retailers, and the exit of key sales and marketing executives.
Over the past few quarters, Samsung has seen the departure of up to 30 senior executives in retail, marketing, and business development roles, many of whom have joined Xiaomi.
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