New Delhi, Sep 8 (SocialNews.XYZ) Samsung India has reportedly laid off their executives across its television and home appliance businesses as part of a cost-rationalisation exercise amid rising operating costs, muted consumer demand and organisational restructuring, as per multiple reports.
Reports suggest that the workforce reduction affects employees across various levels, including directors, team leaders, branch managers and area managers.
The layoffs are being carried out in phases with termination letters issued over the past few days, according to them.
Some employees have reportedly been asked to leave immediately without serving their notice period.
When contacted, Samsung declined to comment regarding such reports.
In addition, Samsung is offering affected employees a severance package comprising three months' salary along with an additional month's salary for every completed year of service.
The move comes as consumer electronics companies grapple with softer demand and rising costs.
Moreover, factors such as higher memory chip prices, elevated raw material costs and depreciation of the Indian rupee have added to operating expenses, as per reports.
Additionally, smartphone shipments in India have declined by about 12 per cent year-on-year.
Similarly, some industry experts expect that the Indian smartphone market to decline by around 13 per cent year-on-year in 2026 with the second half likely to perform better than the first half as festive demand provides some support.
Samsung had also planned to integrate its television and home appliance sales teams, although the move has reportedly been deferred until the December quarter, say reports.
Despite the restructuring, Samsung India reported revenue of over Rs 1.1 lakh crore and net profit of Rs 11,287 crore in FY25.
Separately, a report noted that global foldable smartphone shipments are expected to cross 100 million cumulative units by the end of 2026 which is a major milestone for the category in its eighth year since the first commercially available foldable was launched.
Source: IANS
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