Connect with us

Business

HTC lays off nearly a quarter of its entire workforce

Published

6 years ago

on

HTC has announced yet another round of layoffs.
HTC has announced yet another round of layoffs.

Image: NurPhoto via Getty Images

2018%2f06%2f26%2fc2%2f20182f062f252f5a2fphoto.d9abc.b1c04By Matt Binder2018-07-02 16:05:59 UTC

Smartphone maker HTC is laying off 22 percent of its entire workforce. 

The company has seen a string of terrible quarterly results as the business has been battling poor sales and undergoing reorganization efforts in an attempt to return to profitability.

According to Reuters, around 1,500 workers from HTC’s Taiwan manufacturing division will lose their jobs. These layoffs are in addition to to earlier layoffs at the company’s U.S. offices as part of part of a restructuring that combined its smartphone and VR divisions. Also, earlier this year, separate from the layoffs, HTC sold its smartphone design team to Google for $1.1 billion. The smartphone manufacturer employed 6,450 people as of June.

HTC’s market share was once made up of one in every 10 smartphone sold around the globe. 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.

Will HTC be able to reverse course? Only time will tell.

Https%3a%2f%2fblueprint api production.s3.amazonaws.com%2fuploads%2fvideo uploaders%2fdistribution thumb%2fimage%2f85710%2f4a9d0bb2 3ac0 470b 885a 034c146fe901

!function(f,b,e,v,n,t,s){if(f.fbq)return;n=f.fbq=function(){n.callMethod?
n.callMethod.apply(n,arguments):n.queue.push(arguments)};if(!f._fbq)f._fbq=n;
n.push=n;n.loaded=!0;n.version=’2.0′;n.queue=[];t=b.createElement(e);t.async=!0;
t.src=v;s=b.getElementsByTagName(e)[0];s.parentNode.insertBefore(t,s)}(window,
document,’script’,’https://connect.facebook.net/en_US/fbevents.js’);
fbq(‘init’, ‘1453039084979896’);
if (window.mashKit) {
mashKit.gdpr.trackerFactory(function() {
fbq(‘track’, “PageView”);
}).render();
}

Related Topics:
Continue Reading
Advertisement Find your dream job

Trending