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HTC to Trim Workforce by 15%

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Aug 13, 2015, 6:43 AM by Eric M. Zeman

HTC announced that it will take several cost-cutting measures, including the elimination of jobs. HTC plans to cut about 2,250 employees, or 15% of its headcount by the end of the year, in order save money. Between the job reductions and other actions, HTC hopes to reduce expenses by about 35%. The company is also reorganizing a bit and will form new business units to help it better focus on selling phones, develop its virtual reality tech, and market its connected lifestyle products. Once a leading maker of smartphones, HTC's global share of the smartphone market has dropped to just 2% amid fierce competition at the high and low ends of the market.

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