HTC axes 1,500 people

HTC axes 1,500 people

This scale down is part of the merging of HTC's smartphone and VR businesses in one division.

All the job cuts will be at its plant in Taiwan, where 1,500 people - roughly 22 of the total workforce - will be let go as the company deals with falling sales.

Time has not been kind to HTC as the once-mighty smartphone company struggles to make ends meet while it borders on irrelevancy.

HTC said that to fulfill its social responsibility, the company will try its best to help the affected workers to get through hard times and will offer them any necessary assistance in finding a new job. After the upcoming round of layoffs, it will be cutting its total work force by nearly 20 percent.

"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", a company representative said.

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The company reported a 55.5% drop in April revenues year-on-year, according to Reuters.

The NT$2.45 billion sales in May was also down 46 percent from a year earlier.

Following the Google deal, HTC announced its first quarterly gains for nearly three years in May, posting a net profit of Tw$21.1 billion.

Excluding the one-time non-core business gains from the sale, HTC's core business still incurred first quarter operating losses of NT$5.2 billion.

Prior to that, HTC's then president of smartphone and connected devices, Chailin Chang, tendered in his resignation with immediate effect after the deal between HTC and Google was concluded.

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