Samsung India cuts jobs as cost pressures mount, nearly 100 executives asked to leave

Samsung India has started trimming its workforce in its television and home appliance businesses as a combination of rising costs, weaker consumer demand and a broader restructuring puts pressure on the electronics giant's India operations, reported The Economic Times (ET).The company has so far asked 80-100 executives to leave, according to the report, which cited multiple industry executives.The layoffs are being carried out in batches and affect employees across different levels, including director-level officials and team leads at the headquarters, as well as branch and area managers.The move comes at a challenging time for Samsung's India business. Memory chip prices have more than doubled, while the Indian rupee's decline, weaker smartphone volumes and higher raw material costs have added to pressure on sales and margins.UP TO 25% OF SALES, MARKETING STAFF COULD BE HITThe job cuts are currently focused on Samsung's television and home appliance businesses.