Smartphone maker HTC to lay off 1,500 workers

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

   	7 hours

The official statement by HTC said "Today HTC announces a plan to optimise the manufacturing organisations in Taiwan ..."

HTC said it will lay off 1,500 employees from its Taiwanese division.

It's a move that has been widely described as a cost-cutting exercise by the smartphone and VR headset maker, as the company struggles to recover from months of poor financial performance.

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.

HTC described the cuts - which will be implemented by the end of September - as "a decisive step in the realignment of resources across the organisation" that would allow "more flexible operations management". And let's not forget about last year's deal with Google, which included around 2,000 departures of smartphone design and research staff.

Following the Google deal, HTC announced its first quarterly gains for nearly three years in May, posting a net profit of Tw$21.1 billion.

As part of the second stage of its global manufacturing optimization strategy, HTC submitted a large number of dismissal notices to the Labor Bureau of Taoyuan City Government on Monday. "They are not a significant contender within the smartphone space", said Tuong Nguyen, a Gartner analyst.



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