Wednesday, 26 September, 2018

HTC announces plans to cut 1500 jobs in Taiwan

Struggling smartphone maker HTC to slash 1,500 jobs in Taiwan HTC is looking to fire another 1,500 employees
Orlando Vargas | 03 July, 2018, 18:52

The 1,500 employees who will be affected are part of the company's manufacturing operations in Taiwan, and the layoffs are scheduled to be completed by the end of September, HTC said.

As noted by Reuters, HTC once sold one in every ten smartphones globally, but recent years have seen the division's sales dwindle in the face of competition from Samsung, Apple, and increasingly popular Chinese brands.

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

In the first quarter, HTC posted a net profit of NT$21.1 billion, compared with a net loss of NT$9.8 billion in the previous quarter, with earnings per share of NT$25.70.

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Hence, it should come as no big surprise that the Taiwanese maker of mobile handsets and VR headsets is now looking to lay off a whopping 1,500 employees in a last-ditch effort to "more effectively and flexibly" manage resources going forward.

Under the $1.1 billion deal with Google, the USA tech giant took on half of HTC's research and development staff - about 2,000 people.

The job cuts are part of a "realignment of resources" across the organisation, the company said in a statement.

Prior to that, HTC's then president of smartphone and connected devices, Chailin Chang, tendered in his resignation with immediate effect after the deal between HTC and Google was concluded. "They are not a significant contender within the smartphone space", said Tuong Nguyen, a Gartner analyst.

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