HTC to Lay Off a Quarter of Workers
Liao Shumin
DATE:  Jul 03 2018
/ SOURCE:  Yicai
HTC to Lay Off a Quarter of Workers HTC to Lay Off a Quarter of Workers

(Yicai Global) July 3 -- HTC is to make 1,500 employees, or almost one-quarter of the troubled electronics maker's workforce, redundant just six months after shifting 2,000 engineers to Google in a USD1.1 billion deal.

The job cuts mainly involve the Taiwan-based company's Taoyuan plant, which has more than 4,000 workers, state-backed Xinhua News Agency reported. The firm said the move is part of a realignment of resources across the organization. It has 6,450 employees in total.

"HTC continues to review its operations to ensure production resources align with key strategic initiatives so that the company can more effectively compete in its target markets while maintaining its innovative edge," HTC said in a statement.

Founded in 1997 by Cher Wang, the daughter of the late entrepreneur Wang Yung-ching, HTC was the world's first Android smartphone maker. It was a major player in the global smartphone sector in the early 2010s, accruing a market share of as much as 10 percent by 2011.

This year, HTC's market share fell to around 0.3 percent, data from research firm Gartner shows. The company reported a loss of USD595 million for 2017.

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Keywords:   HTC,Jobs Cut