HTC to lay off 1500 employees from Taiwanese factories

Struggling smartphone maker HTC to slash 1,500 jobs in Taiwan

HTC has previously said it wants to better coordinate its smartphone and virtual reality businesses.

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

Things have gone from bad to worse for HTC, and the situation is getting bleaker.

Time has not been kind to HTC as the once-mighty smartphone company struggles to make ends meet while it borders on irrelevancy.

As per its own data, the company employs 6,450 employees globally as of June this year, meaning that this layoff represents about a quarter of its workforce.

A HTC "U11" smartphone is displayed in this illustration photo taken August 1, 2017.

"HTC continues to review its operations to ensure production resources align with key strategic initiatives, so that the company can more effectively compete in its target markets while maintaining its innovative edge", a company representative said. After the upcoming round of layoffs, it will be cutting its total work force by nearly 20 percent. The company reported a 55.5 percent plunge in April revenues year-on-year and a 46.7 percent slide in March sales. Also, earlier this year, separate from the layoffs, HTC sold its smartphone design team to Google for $1.1 billion.

Under the deal with Google, which was completed in January, about 2,000 HTC engineers who used to work for the ODM assets shifted gears to work for the US company.

Related News:



Most liked

Democratic Candidate Faces Questions Over Her 'Working Class' Bronx Background
In a tweet on Sunday, Cardillo claimed that the photo of her home was "a far cry from the Bronx hood upbringing she's selling". This is the Yorktown Heights (very nice area) home @ Ocasio2018 grew up in before going off to Ivy League Brown University.

LeBron James’ people (but not LeBron) to meet with Philadelphia Sunday
Trading for Leonard would be very risky for the Celtics as they already have a team that could contend for the title. Superstar Kawhi Leonard recently stated disinterest with the San Antonio Spurs and would like to be traded.

Fans react to blistering start in Croatia v Denmark
Croatia v Denmark TV Channel: How do I watch Croatia v Denmark on TV? "We are not easy to play against", captain Simon Kjaer said. For that creative energy, he will rely heavily on key player Christian Eriksen .

N. Korea aiming to hide ongoing nuclear production
Trump had showered Kim with praises, calling him a "very talented man", and made security concessions in return for very little. White House national security adviser John Bolton .

Spain vs. Russia, Last 16
Despite overwhelming possession time, Spain were unable to break down the Russian defence even after extra-time. They though they had penalty with five minutes left in the match, with Pique seemingly pulled down in the area.

Kirsten Gillibrand Becomes FIRST SENATOR to Call for Abolishment of ICE
Customs Service and former Immigration and Naturalization Service. "Zero chance, It will never happen!" the president added . ICE spokeswoman Liz Johnson condemned calls to abolish the agency as "dangerously misguided" in a statement Friday.

NBA Free Agency Rumors: Kawhi And LeBron Had A Chat
If LeBron does not opt in to his contract with the Cleveland Cavaliers on Friday, he will become an unrestricted free agent. On the flip side, the Celtics are rumored to be dipping their toe into the water on trade talks for Leonard.

House Republicans Face Another Week Of Fighting Over Immigration
Even immigration legislation tailored to the conservatives wing of the GOP went down in spectacular flames by a vote of 300-121. While Republicans called the measure a "compromise bill," the dealmaking occurred exclusively among members of the GOP .

Amazon buys online pharmacy PillPack in latest healthcare push
A September 2016 funding round valued the startup at around $360 million, according to venture-capital database PitchBook. The Boston-based company said it raised $118 million from investors and venture funds since its launch in 2013.

Bali airport resumes operations day after volcano Mount Agung erupts
Volcanic ash is hard and abrasive, and can damage propellers and turbo compressor blades, as well as scratching cockpit windows. Bali's main global gateway will be closed until at least Friday evening, according to officials who spoke to AFP news agency.

Germany Fails To Advance Out Of Group Stage For First Time
Sweden won the group after thrashing Mexico 3-0 to also deny South Korea a spot in the knockout stages. Germany are four-time Football World Cup champions and have always cleared the group stage hurdle.

Brazil ease into last 16 with win over Serbia
An injury to Marcelo in the early ten minutes of the game was a blow but the Selacao recovered with Neymar in the tick of affairs. Ljajic stumbled to take a return pass after a charging run into Brazil's box and then fired over shortly after.

Joe Jackson, father of Michael and Janet Jackson, dead at 89
Joe copped to it but, far from apologizing. he said his methods made his kids successful and kept them out of jail. During his life, Joe Jackson was known for managing the Jackson 5 and bringing his children into the spotlight.

China Says Washington Trade Actions Will Hurt American Workers
New rules that would curb investment in American technology firms are reportedly in the works within the Treasury Department. The US claims that China's government unfairly supports Chinese companies in certain strategic industries.

Win over England not priority, says Belgium coach
Marcus Rashford is expected to take Raheem Sterling's place and Dele Alli is available again after training for the past two days. We need to breed that mentality. "It just wouldn't be authentic for what we've been trying to build for the last two years".