The South Korean tech giant won’t be cutting down on human resource in India amongst stiff competition from Chinese companies.
On Tuesday, Samsung put an end to all the surfacing rumours regarding slashing 1,000 jobs in India. A Samsung spokesperson told IANS, that after generating 2,000 new jobs in the past one year, the South Korean giant would hire more talent across verticals throughout the year as it "continuously realigns resources" as per business priorities.
Samsung labelled all such reports as ‘misleading’ and ensured that something such as this is not in their agendas. The South Korean tech giant won’t be cutting down on human resource in India amongst stiff competition from Chinese companies.
The Samsung spokesperson said, “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.”
Samsung's profit growth has remained under strain since 2017-19 with Chinese companies such as Xiaomi and OnePlus eating into its share in the India smartphone business.
The company's net profit in the 2018 financial year fell 10.7 per cent to Rs 3,712 crore while total income grew at a similar pace to Rs 61,065 crore, said the report in a leading business daily that cited disclosures with the Registrar of Companies (RoC).
However, Samsung highlighted the fact that its business in India continues to grow and expand. “We have demonstrated our commitment by building the world's largest mobile factory in Noida, investing in local R&D and we are exploring new businesses such as 5G Network, among others”, “In the past one 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 businesses through the year,” added the spokesperson.