HTC to lay off 1500 employees from its Taiwanese manufacturing division

HTC to lay off 1500 employees from its Taiwanese manufacturing division

HTC says that the layoffs are part of a move to unite the company's smartphone and VR business under the same top executives in each region where it does business.

HTC said it will lay off 1,500 employees from its Taiwanese division. This represents about a quarter of the 6,450 staff it employed globally as of June, data from the company shows.

Despite critical acclaim for phones like the HTC One, the company has seen its share of the market decline steadily amid stiff competition from Apple and Samsung. 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.

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HTC is cutting its personnel by around 20 percent and said the move is part of its plans to re-fashion its manufacturing. After the upcoming round of layoffs, it will be cutting its total work force by nearly 20 percent.

Earlier this year, HTC reported a 55.5% plunge in April revenues year-over-year and a 46.7% slide in March sales.

This follows a $1.1 billion deal late past year under which HTC shifted around 2,000 staff, mainly handset engineers, to Alphabet's Google, casting doubts over the Taiwanese firm's longer-term future. To further this initiative, HTC will complete laying off 1,500 employees by September this year.

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