Smartphone maker HTC is planning on slashing around a quarter of its global workforce through job cuts at its manufacturing unit in Taiwan. This move is in a bid to better manage resources in its tough times. This also indicates that the company is struggling yet again as the market share decline amid mounting competition from Apple, Samsung, and Chinese rivals.
The company said that it would cut around 1,500 jobs in its manufacturing unit in Taiwan. This represents about a quarter of the 6,450 staff it employed globally as of June. The layoffs will be completed by the end of September and is also a part of a broader plan to bring HTC’s smartphone and VR businesses under common leadership in each region.
It is a known fact that Google bought stakes in HTC for around $1.1 billion where it shifted around 2,000 staff, this move also cast doubts over the Taiwanese firm’s longer-term future. The company reported a 55.5% plunge in April revenues year-on-year and a 46.7% decline in March sales.
HTC in a statement said.
Today HTC announces plan toust optimize the manufacturing organizations in Taiwan. This plan will allow more effective and flexible resource management going forward.