HTC Confirmed to Conduct New Round of Layoffs

According to the Taiwan Central News Agency, HTC confirmed that the company will conduct a new round of layoffs, however the Taiwanese mobile manufacturer did not disclose specific details of the layoff plans.

According to the report, HTC emphasized that the layoff adjustment is to ensure that its VIVE and smartphone business can develop at a faster pace in the future. HTC pointed out that it will continue to innovate products and services in mobile communications, VR, and blockchain.

SEE ALSO: HTC to Focus on VR Development Instead of Hardware in Future

HTC cut 2,250 jobs in 2015, and subsequently cut another 1,500 jobs in July 2018. According to the report, HTC currently employs more than 3,000 people. Employees who have been laid off can still receive full year-end bonuses.

Previously, HTC announced its October earnings report with total revenue of NT $656 million. Although HTC launched a series of new devices a few months ago, HTC’s performance plummeted in October as revenue dropped by 48.58% compared to the previous month.