HTC forced to axe jobs

HTC CEO Cher WangBeleaguered handset manufacturer HTC is taking steps to turn its business round by making 15 percent of its workforce redundant and introducing schemes to cut its operating costs by as much as 35 percent.

The Taiwanese firm currently employs over 15,000 employees worldwide and so will lose around 2,250 people, according to Digitimes.

HTC, as we’ve reported earlier, is to concentrate on making and selling high end smartphones, virtual reality gizmos and other products.

Digitimes quotes CEO Cher Wang as saying that HTC needs a flexible and dynamic team. Just recently HTC said it was likely to turn in a loss in its third financial quarter, following a loss it made in the second quarter.

It only managed to ship 5.4 million smartphones in the second calendar quarter of this year.

HTC has faced a battering from both Samsung and Apple which have immense marketing budgets worldwide, while the Taiwanese company doesn’t have very deep pockets.