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.

Related:

Comments

Latest news

Ocasio-Cortez's lineage: a history of 'socialists' from NY
Last week, Ocasio-Cortez won the Democratic primary in New York's 14th congressional district. She is also a member of the Democratic Socialists of America .

National Basketball Association superstar LeBron James signs with LA Lakers
James averaged 27.5 points, 8.6 rebounds, 9.1 assists and 1.4 steals and shot 54.2 percent from the field this past season. James, 33, has shown little sign of slowing down despite accumulating thousands of regular season and playoff minutes.

Steel and aluminum announcement coming Friday
In Washington, the National Cattlemen's Beef Association said the tariffs would hit $170 million worth of USA beef products. He is also threatening to impose another national security-based tariff on imported cars, trucks and auto parts.

Porsche 919 Evo Nurburgring Record in Progress: Sets 5:19 Lap Time
For some context, this lap was about 90 seconds faster than the production-car record holder, the Porsche 911 GT2 RS . And what a race vehicle it turned out to be! This lap time was Porsche's final goal for its no-holds-barred prototype.

Other news