Samsung India begins job cuts amid rising costs

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New Delhi: Samsung India has reportedly initiated layoffs within its television and home appliances divisions due to rising costs and lower sales.

As per reports, an estimated 80-100 executives have allegedly been asked to leave. This includes director-level employees, team leaders, branch managers, and area managers.

The layoffs coincide with memory chip prices which have more than doubled, as well as high raw material costs and declining demand for smartphones have affected the company’s sales and profit margin.

While the layoffs are currently limited to TV and home appliances segments, sources reveal that up to a quarter of the sales and marketing staff in the electronics division may face job loss, which may also impact contract staff hired through manpower agencies.

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Meanwhile, Samsung India’s robust smartphone division, which contributes to around three-quarters of its overall revenue, remains untouched.

The company is also looking to cut its expenses by consolidating a few branch offices.

The company reported a revenue of approximately 1.1 trillion rupees for FY25 and a 38% jump in net profit to 11,287 crore rupees during the year.

Also read: Volkswagen To Cut 1 Lakh Jobs By 2030 Amid Cost-Cutting Plan

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