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HTC to lay off a quarter of its workforce | Economics
03 July 2018, 06:51 | Austin Hogan
HTC is looking to fire another 1,500 employees
With HTC just as well-known for its Vive VR headset as its phones these days, the company chose to merge the two divisions into one at around the same time as the layoffs.
HTC will be laying off 1,500 workers in its manufacturing unit in Taiwan in a move to streamline its operations and cut loses. This represents about a quarter of the 6,450 staff it employed globally as of June, data from the company shows.
Time has not been kind to HTC as the once-mighty smartphone company struggles to make ends meet while it borders on irrelevancy. HTC has made a statement which reveals that the company is going to lay off as much as 1,500 people from its manufacturing plant in Taiwan.
"With its workforce being cut on such a big scale, I don't expect HTC to report any good sales news down the road", Chang said.
It incurred a net loss of Tw$16.91 billion in 2017 and a loss per share of Tw$20.58, the highest since it listed on the Taiwan Stock Exchange in March 2002.
It's important to note that the 1500 affected staff are not from team that went over to Google to work on the latter's Pixel smartphones, as part of the US$1.1 billion (~RM4.05 billion) deal that the two companies agreed to previous year.
The round of layoffs will be completed by September and follows the merger of its smartphone and VR lines earlier this year.
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