HTC confirms new layoff plan, saying it’s an overall operating adjustment

On December 19th HTC confirmed a new round of job cuts, saying it was an overall operational adjustment, confident of the long-term healthy development of the industries involved, and would continue to invest in leading innovation. HTC stresses that the current changes to operations are also aimed at better growth in the future. HTC officials said both taiwan’s headquarters and china were involved because of the restructuring of the company’s overall operations. But the person did not disclose the specific departments involved and the number of layoffs.

The job cuts will be HTC’s third in the past five years. This followed the company’s 2,250 job lay-offs in 2015 and then another 1,500 jobs in July 2018. It is reported that HTC currently employs more than 3000 people, will be based on business needs to adjust manpower, laid-off employees can still receive 2 months of year-end bonuses.

HTC confirms new layoff plan, saying it's an overall operating adjustment

HTC, once the world’s largest smartphone maker and foundry, was once the world’s second-largest mobile phone company by market capitalisation and overtook Apple in North America. But HTC phones have lost out in the fierce competition, and htc phones are now on the edge of the market. Moreover, even though HTC had been actively transitioning to virtual reality products such as VR in its early years, it would not be able to change the company’s losses.

HTC continued to lose money overall in the second quarter of this year, with a net loss of T$2.23bn (Rmb70.81m), which has been losing money for five consecutive quarters.

In its statement, however, HTC stressed the company’s commitment to innovation in its products and services and set a new benchmark for the mobile communications, virtual reality and blockchain industries. The latest products such as Vive Cosmos, Vive Pro Eye, Focus Plus and blockchain phone Exodus 1s all represent cutting-edge products in their respective industries, and more will be expected in the future.

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