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Layoffs 2024: Samsung Electronics to trim 9-10% workforce in India, as consumer demand weakens, says report

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Layoffs 2024: Samsung Electronics to trim 9-10% workforce in India, as consumer demand weakens, says report

Samsung Electronics is reportedly planning to lay off over 200 executives in its Indian operations due to slowing business growth and weakening consumer demand in the country. The impacted departments are expected to include mobile phones, consumer electronics, home appliances, and support functions. Samsung will offer the affected employees a severance package based on their employment contract. The news has caused concern in the industry, with some executives seeking job opportunities elsewhere. Additionally, Samsung's Chennai factory has experienced labour unrest, disrupting production. On the other hand, Apple is projected to create around 200,000 direct jobs in India, with a majority being women.

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