HTC to lay off a quarter of its workforce | Economics

HTC is looking to fire another 1,500 employees

HTC is looking to fire another 1,500 employees

The workforce which HTC plans to lay off makes up around a quarter of the 6,450 staff it employed globally as of June.

The cuts will be completed before October and they are said to be part of a move to centralize the leadership of HTC's smartphone and Vive VR business.

This time, workers at an HTC manufacturing unit in Taiwan are out, and not as part of any mutually advantageous agreement.

"Today HTC announces plan to optimize the manufacturing organizations in Taiwan".

But, thanks to ramped up competition from other smartphone makers like Apple and Samsung, the company has now found themselves struggling as revenue and sales continue in a downward spiral.

In 2015, the company cut more than 2,000 jobs, slashing its workforce by 15 percent after posting its then biggest ever quarterly loss of Tw$8.0 billion.

The NT$2.45 billion sales in May was also down 46 percent from a year earlier.

It has been an interesting year for HTC, to say the least.

HTC and Alphabet's Google struck a $1.1 bn deal a year ago - a move that some took as a sign that HTC needed extra money to keep going. While this did put some much-needed money into its coffers, the deal saw 2000 handset engineers become Google employees, and it included a "non-exclusive license for HTC intellectual property".

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