Samsung dials for growth, brings new strategy to recover lost ground

The mobile company has fired 500 employees, reshuffled its leadership and introduced new products as part of its new game plan

The country’s largest consumer electronics firm Samsung Electronics is in the process of downsizing. As many as 500 employees are being shown the door as part of its biggest rationalisation drive in years. The move, though, is not being done in isolation, nor is this the first time staff have been let go.
 
The Korean major had undertaken a similar exercise in 2015-16, when it fired hundreds, revamped the portfolio and introduced new faces at the top following heightened competition from Indian firms such as Micromax, Intex and Lava. In fact, the firm has reshuffled its top deck twice