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Struggling smartphone maker HTC to cut 1,500 jobs

HTC said it would cut 1,500 jobs in its manufacturing unit in Taiwan. This represents about a quarter of the 6,450 staff it employed globally as of June.

tech Updated: Jul 03, 2018 13:26 IST
Reuters
Reuters
Reuters
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HTC job cuts: More than 1,000 employees to be sacked(REUTERS)

Smartphone maker HTC plans to slash around a quarter of its global workforce through job cuts at its manufacturing unit in Taiwan, in a bid to better manage resources as the company continues to battle dwindling sales.

HTC’s job cuts indicate fresh hiccups for the struggling Taiwanese mobile phone maker that once sold one in 10 smartphones globally, but has seen its market share decline amid mounting competition from Apple, Samsung Electronics Coand Chinese rivals.

HTC said it would cut 1,500 jobs in its manufacturing unit in Taiwan. This represents about a quarter of the 6,450 staff it employed globally as of June, data from the company shows.

“Today HTC announces plan to optimise the manufacturing organisations in Taiwan ... This plan will allow more effective and flexible resource management going forward,” HTC said.

The layoffs will be completed by the end of September. HTC’s job cuts are also part of a broader plan that brings the company’s smartphone and VR businesses under common leadership in each region.

This follows a $1.1 billion deal late last year under which HTC shifted around 2,000 staff, mainly handset engineers, to Alphabet’s Google, casting doubts over the Taiwanese firm’s longer-term future.

HTC’s job cuts come amid a decline in its revenues and sales. The company reported a 55.5% plunge in April revenues year-on-year and a 46.7% slide in March sales. ALSO READ: Google buys HTC’s Pixel smartphone team for $1.1-billion

First Published: Jul 03, 2018 11:33 IST