About 1,000 Samsung employees working in India are at risk of losing their jobs in the coming days.
Samsung used to have a huge market in India but that has changed drastically in the past few years due to fierce competition from Chinese phone makers. To cut operating costs, the Korean tech giant is said to be planning to lay off 1,000 employees. Even Samsung will reduce the price of smartphones and TVs.
According to Gizmochina, Samsung is reported to have fired 150 employees at its telecommunications network and will end all rationalization of human resources in October. The layoffs will target employees at all. Both parts include sales, marketing, R&D and production, finance, personnel and business relations. The company is currently forcing sales managers to report all employees with weak capabilities as well as those who cannot complete the assigned plans.
It is known that Samsung has about 20,000 employees in India. And it seems that this Korean manufacturer is looking to focus on creating profit growth instead of revenue from India.
Meanwhile, a Samsung India spokesman recently told BusinessToday that the company is committed to India will continue to invest significantly in its businesses in the country.
“In the past year, we have created 2,000 new jobs at Samsung. Samsung India's business activities continue to grow and expand, so we will hire more talents in the future. In the process of contributing to creating jobs, we are constantly aligning resources according to business priorities to help our businesses become more robust and efficient for long-term success. ”, the spokesman said.
"Regarding business with new products in the categories, we were able to strengthen our market share further and 2019 will be a record year for the company," he added.
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