HTC layoff eliminates 1,500 employees

BY LEAH WILLIAMS
Posted on FEB 20, 2019

Smartphone Maker HTC reduces a quarter of its global staff to leverage profits.

Smartphone maker HTC has announced a job reduction strategy scheduled for October, in which 1,500 employee layoffs will occur within the Taiwanese manufacturing division.

As the company eliminates roughly a quarter of its 6,450 global staff, HTC projects a bid to restore its profitability, as reported by Reuters.
In a statement, the company plans to reorganize and take advantage of efficiency savings as well as help cushion its non-existent bottom line.

Officials have pledged to work with the Bureau of Labor, supporting all of those affected.

"This plan will allow more effective and flexible resource management going forward," the company told Reuters.

Reorganizations have become conventional within HTC, as the manufacturer attempts to leverage profits and stability from a previous shuffle earlier this year.

Shortly after the president of HTC's mobile division resigned, the company decided to combine its VR and mobile divisions into one, resulting in minimal benefits.

Declining profits have continued to plague the company, which was once seen as a leader in the smartphone space. Since 2014, the company's annual profits have trended downwards, with an unknown recovery projectors. HTC has affirmed its commitment to remaining in the mobile space amid strategy concerns.

The employee layoffs will officially occur in October 2018, as reported by Reuters