Samsung lays off 10% of its workforce in India amidst a factory strike crisis

Samsung India is experiencing a turbulent period as it is losing ground to Chinese competitors. According to The Economic Times of India, the company will lay off nearly 200 people, which is about 10% of the workforce. The announcement comes on the third day of protests at the Chennai factory, where workers demand better wages and working conditions. The plant, located in Sriperumbudur, produces TVs, fridges and washing machines and contributes between 20% and 30% of Samsung's annual $12 billion revenue in India. The factory does not manufacture mobile devices, so this strike will...