HTC is firing another 1,500 employees to ‘more effectively’ manage resources
HTC may have just about tried everything over the past few years to regain the relevance and profitability of a company once ranked among the world’s top three smartphone vendors.
Hence, it should come as no big surprise that the Taiwanese maker of mobile handsets and VR headsets is now looking to lay off a whopping 1,500 employees in a last-ditch effort to “more effectively and flexibly” manage resources going forward.
This is already the second round of 2018 job cuts, impacting however far more people than a February restructuring move that saw the two aforementioned business departments reunite. And let’s not forget about last year’s deal with Google, which included around 2,000 departures of smartphone design and research staff.
This time, workers at an HTC manufacturing unit in Taiwan are out, and not as part of any mutually advantageous agreement. Assistance will obviously be provided to all dismissed employees conforming to corporate social responsibility standards.
The latest “reorganization and optimization” effort of the company’s feeble finances should be completed by September, at which point HTC will have less than 5,000 people left on the payroll. By the way, 1,500 of the 6,450 or so current jobs is close to 25 percent, which qualifies as a massive employment cutback.
Of course, desperate times call for desperate measures, and HTC’s revenues have been down year-on-year for 11 consecutive months now, despite the results from the previous couple of years being anything but satisfying.