Jul 3, 2018

HTC to axe about a quarter of its global workforce

Smartphone-maker HTC is to cut 1,500 jobs in Taiwan, about a quarter of its global workforce. The job cuts are the latest sign that HTC, once a major player in the smartphone market, is struggling to keep afloat in a competitive industry. "Today's reduction in manufacturing workforce announced by HTC is a decisive step in the realignment of resources across the organization, and will allow more flexible operations management," HTC said in a statement. HTC and Alphabet's Google struck a $1.1 bn deal last year - a move that some took as a sign that HTC needed extra money to keep going. HTC manufactures Google's smartphones, the Pixel and Pixel XL. The company reported a 55.5% drop in April revenues year-on-year, according to Reuters.

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