One cannot doubt the dominance that Samsung once posed in the Indian market – being present just a few years ago. However, the situation has changed completely for the Korean manufacturer – a direct consequence of the success that Chinese phone makers have enjoyed in the past couple of years in the subcontinent country. Indeed recent reports have even gone as far as suggesting that in order to reduce costs, Samsung is planning to lay off 1000 of its employees. It has also been reported that the company will be reducing the prices of its smartphones as well as its televisions.
Around 150 employees have already been sacked at Samsung’s telecom networks division, and the process of sacking is only likely to continue as the manufacturer set an October deadline in order to wrap up the process of manpower rationalisation. Such a lay off is likely to affect all the departments that the company boasts, including the likes of sales, as well as marketing, R&D and manufacturing, finance, human resources and corporate relations. The business heads have already been notified by Samsung to report all the employees that have been under-performing as well as those who fail to deliver targeted results to their team.
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It is estimated that Samsung employs around 20,000 people in India, and the company’s headquarters has reportedly sanctioned the move. It is said that the tech giant will not be focusing on the generation of profit growth instead of revenue from India.
A spokesperson from Samsung is reported to have saying : “In the past one(sic) year, we have generated 2,000 new jobs at Samsung. Samsung India’s business continues to grow and expand, hence we will hire more talent across business throughout the year. As we contribute to job creation, we continuously realign resources as per business priorities to make our business more robust and efficient for long term success.”
“As regards business, with new products across categories, we have been able to consolidate our market share further, and 2019 will be a record years for the company.”