Jobs cut: 1,500
Troubled Taiwanese phonemaker HTC is planning to cut a quarter of its global workforce as it battles losing market share to firms such as Samsung, Apple, and Huawei.
The company – which only recently in 2017 struck a $1.1 billion deal with Google for access to HTC's staff and intellectual property – will lay off 1,500 jobs at its manufacturing concern in Taiwan, accounting for about one quarter of its 6,540 staff, according to Reuters. These are set to complete by September 2018.
At the same time, it will restructure to join its smartphone and virtual reality businesses together in each region that they operate.
HTC brought some of the most successful early Android smartphones onto the market, back when the Google operating system was a distant challenger to the market share of Apple and its first iPhone models. While its newer phones have received positive reviews, they have struggled to achieve the market share of HTC's glory days.
The company, which once shipped one in every 10 smartphones globally, has dramatically been pushed out of the top five manufacturers by shipping volume in recent years, which are now Apple, Samsung, and Chinese manufacturers Huawei, Xiaomi and Oppo respectively, according to recent IDC statistics.
HTC was cofounded by noted Taiwanese billionaire and philanthropist Cher Wang in 2007, who also founded chip business VIA Technologies. She is the daughter of Wang Yung-ching, who founded the enormous Taiwanese manufacturing conglomerate Formosa Plastics Group.