 "Samsung to lay off over 200 employees in India across various divisions")
South Korean electronics manufacturer Samsung is reportedly undertaking a restructuring exercise, handing out pink slips to employees. In India, the company is expected to lay off over 200 employees across divisions including smartphones, home appliances, and consumer electronics.
An industry source said the layoffs are part of a global restructuring exercise and not necessarily related to performance of any particular segment or market.
According to media reports, the company, in a statement, said workforce adjustments conducted at some overseas operations were routine, and aimed at improving efficiency, while adding that they are not impacting its production staff.
According to data from the International Data Corporation’s worldwide mobile phone tracker, Vivo emerged as the top brand in the overall smartphone market in the March quarter this year replacing Samsung, which despite a new line-up witnessed declining shipments in the quarter.
The trend continued in the June quarter, where Xiaomi bucked Samsung to occupy the second position after Vivo. Samsung’s market share fell to 12.9 per cent in the June quarter from 15.6 per cent in Q1, the data showed.
Meanwhile, Samsung retained its leadership position in the smart TV segment with a 16 per cent market share in the June quarter.
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According to its 2023 sustainability report, the company employs as many as 267,860 people globally, and over 2,000 people in the country.
The company’s decision comes at a time when workers at its manufacturing unit at Sriperumbudur, near Chennai in Tamil Nadu, have been on an indefinite strike, demanding an increase in wages and a reduction in working hours.