High Tech Concern: Struggling HTC to slash a quarter of workforce

High Tech Concern: Struggling HTC to slash a quarter of workforce

HTC has lost a portion of its share of the smartphone market over the past seven years, dropping to 0.3 percent in the first quarter of this year from up to 10 percent in 2011.

What just happened? HTC, once a giant of the mobile industry, has said it will be laying off 1500 employees from its Taiwanese manufacturing unit as it looks to return to profitability.

According to HTC, the layoffs "will allow more effective and flexible resource management going forward". The company also said the layoffs would be completed by the end of September and would further its plan to put its smartphone and VR businesses under one roof in each region. After the upcoming round of layoffs, it will be cutting its total work force by nearly 20 percent.

The mobe maker has persistently failed to come up with anything that pushes it ahead of competitors, leading to a billion-dollar deal late a year ago with Google to effectively sell 2,000 of its handset engineers to the monster web corp.

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Smartphone manufacturer HTC will slash nearly a quarter of its employees in an effort to become profitable.

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

It has been an interesting year for HTC, to say the least.

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