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Taiwan’s HTC to cut jobs for second consecutive year

Company to focus on blockchain cellphones, VR products

(HTC Facebook photo)

(HTC Facebook photo)

TAIPEI (Taiwan News) — Taiwanese smartphone manufacturer HTC confirmed on Monday (Dec. 16) plans to downsize again as part of its realignment strategy aimed at retaining an innovative edge.

The company, which has around 3,000 employees, did not reveal details of the planned layoffs such as the numbers and departments to be affected. Those who get sacked will still be eligible to receive two months' salary as their year-end bonus, reported CNA.

HTC said the workforce adjustment is to ensure better prospects for its virtual reality system VIVE and mobile products. The PC-powered headset Vive Cosmos and Exodus series of blockchain-based smartphones are some of the top-notch products the company will focus on, it said.

The consumer electronics company has had a difficult time reclaiming its lost share in the smartphone market amid fierce competition from rivals like Samsung and Apple. In January of 2018, Google ventured into the smartphone industry, sealing a deal with HTC that saw 2,000 of its engineers and technical staff moving over to Google, reported CNN.

HTC slashed 2,250 jobs in 2015, which was followed by another cut of 1,500 jobs in July of 2018. Its revenue has reportedly declined this year, with the company raking in only NT$440 million (US$1.5 million) in sales in July, the lowest in 19 years, wrote Liberty Times.

Updated : 2022-05-18 08:48 GMT+08:00