HTC to axe about a quarter of its global workforce

HTC is firing 25% of its staff to cut costs once again		
		
	Jon Russell

       @	   
   	7 hours

These layoffs are in addition to to earlier layoffs at the company's US offices as part of part of a restructuring that combined its smartphone and VR divisions. HTC has made a statement which reveals that the company is going to lay off as much as 1,500 people from its manufacturing plant in Taiwan.

According to HTC, it had about 6,450 employees worldwide as of June, meaning that it plans to let go of about a quarter of its entire workforce.

However, the layoffs downsize HTC's overall workforce by 22 percent.

"HTC continues to review its operations to ensure production resources align with key strategic initiatives, so that the company can more effectively compete in its target markets while maintaining its innovative edge", a company representative 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. The company reported a 55.5 percent plunge in April revenues year-on-year and a 46.7 percent slide in March sales.

Google and HTC struck a $1 billion plus deal previous year.

The round of layoffs will be completed by September and follows the merger of its smartphone and VR lines earlier this year.

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