HTC to lay off 1500 employees from its Taiwanese manufacturing division

HTC is firing 25% of its staff to cut costs once again		
		
	Jon Russell

       @	   
   	7 hours

In a statement issued by the company, "Today HTC announces plans to optimize the manufacturing organizations in Taiwan".

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

In 2017, HTC incurred a net loss of NT$16.91 billion and a loss per share of NT$20.58, the highest since it listed on the Taiwan Stock Exchange in March 2002.

According to HTC, the layoffs "will allow more effective and flexible resource management going forward".

Shares in the firm plunged nearly 6 per cent in Taipei on Tuesday.

The mobe maker has persistently failed to come up with anything that pushes it ahead of competitors, leading to a billion-dollar deal late previous year with Google to effectively sell 2,000 of its handset engineers to the monster web corp. While this did put some much-needed money into its coffers, the deal saw 2000 handset engineers become Google employees, and it included a "non-exclusive license for HTC intellectual property".

2018 hasn't been the best year for HTC.

But while analysts said the Google agreement would mean some immediate benefits for HTC, such as more capital and cost reductions, they predicted a turnaround in its fortunes was unlikely.

However, the layoffs downsize HTC's overall workforce by 22 percent. With HTC just as well-known for its Vive VR headset as its phones these days, the company made a decision to merge the two divisions into one at around the same time as the layoffs. The one bright light may be its Vive virtual reality headset.

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