HTC said it would cut 1,500 jobs in its manufacturing unit in Taiwan.
"The company will offer full assistance to those employees affected by the plan, which will be completed by the end of September".
The official statement by HTC said "Today HTC announces a plan to optimise the manufacturing organisations in Taiwan ..."
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.
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Not that long ago, HTC was a top smart phone brand, creating new models and letting others brand them - the Google Nexus One and Evo 4G among them. And let's not forget about last year's deal with Google, which included around 2,000 departures of smartphone design and research staff. The company reported a 55.5 per cent plunge in April revenues year-on-year and a 46.7 per cent slide in March sales.
HTC's share price has plummeted 90 per cent since its 2011 heyday following massive drops in revenue in for the past three years.
Things have gone from bad to worse for HTC, and the situation is getting bleaker. However, troubles and declining sales aren't the only reason HTC is making this move.