Samsung India Layoff
Have you heard the news that Samsung India is going to layoff more than 200 employees? Is Samsung under loss because they clearly do not look like that? I am very confused by this news. Please share some insights.
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The speculations about the Samsung India layoff are true. There are various factors for which this well-known tech company is laying off employees. Some of the crucial ones would be their loss in the smartphone market segment. With the coming of the Apple iPhone, Samsung indeed has lost its value. Samsung and Apple are supposed rival companies and now in the mobile segment, the iPhone is creating quite a buzz. Since customer demand for Samsung smartphones is decreasing, it is becoming difficult to retain so many employees. Hence the company has decided to layoff 9-10% of the entire workforce, which is around 200 employees. Samsung has currently stopped fresh hiring as well. However, the company has stated the welfare of the employees is their top priority and it would support them to address grievances.
Yes, I've heard about the layoffs. It might be a strategic move rather than due to financial losses. Big companies often restructure to stay efficient.