HTC to lay off 1500 employees from Taiwanese factories

HTC to lay off 1500 employees from Taiwanese factories

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.

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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.

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