Samsung Electronics is reportedly laying off more than 200 executives in its Indian business across operations. This comes as the company's business growth in the country has slowed due to poor consumer demand, the Economic Times reported, citing four unnamed senior industry executives.

Layoffs will occur in mobile phones, consumer electronics, home appliances and support functions, accounting for 9-10% of the total managerial workforce, the report said. The retrenched employees will be offered a severance package of three months' salary as per their employment contract and one month's salary for every year of service, the report added. Some of those laid off include senior executives.

This comes as workers at Samsung's Chennai factory are on an indefinite strike for the third day. The strike has affected production of televisions, refrigerators and washing machines ahead of the festive season. The company is still trying to operate the plant at 50-80% of its capacity, news agency Reuters reported.

The report claimed that Samsung plans to restructure its operations, which may include the merger of some business divisions such as televisions and home appliances. This could increase the number of layoffs, the report said, adding that the move is aimed at cutting management layers, manpower and overheads and reducing efficiency. According to the report, a final decision in this regard will be taken after Diwali.