HTC to Lay Off 1,500 Jobs in Taiwan After Financial Struggles Worsen
Jul. 2, 2018HTC has had difficulty selling a lot of smartphones over the past few years and to counter its losses, the Taiwanese smartphone-maker sold a part of its smartphone team to Google, earlier this year. But despite gaining$1.1 billionfrom the deal, HTC isstruggling financiallyand will now be letting go of around a fourth of its workforce.
Due to mounting pressure from major competitors such as Apple, Samsung, and other Chinese companies which are disrupting the industry with their price-effective smartphones,HTCwill now lay off 1,500 employees.Reutersreports that this is part of the company’s freshefforts to improve the utility and management of available resources.
As of June, the company employs a total of 6,450 employees worldwide. All of the 1,500 staffers losing their jobs will be fromamong the company’s manufacturing workforce. This, as per an official statement will help HTC “optimize the manufacturing organizations in Taiwan“.HTC U12 Plus
All of this is part of HTC’s plan to integrate smartphone andVR businessinto a single entity, which will be guided by a single leadership. The company, as per Reuters, will close the layoffs by September but has not disclosed how it plans to compensate the laid-off staff.
Despite this, the phone maker has been working to regain its lost position in the market and recently unveiled its flagship device –the HTC U12 Plus– with a looker translucent design, squeeze gestures, and dual cameras on both sides. The company has not forgotten the budget segment and introduced theDesire 12 and Desire 12+ in Indialast month starting at a price of Rs. 15,800.
