HTC announces it will slash workforce by 15% to save on expenditure costs
Things aren’t exactly going to plan for HTC at the moment, its One M9 flagship isn’t selling too well and it most recently had to remove its One M9+ off the shelves in The Netherlands because of problems with 4G connectivity. Now, it seems that the combination of sluggish sales and making losses is beginning to take its toll on the Taiwanese handset maker with the announcement that it is trimming down its workforce.
HTC plans to cut its workforce by up to 15% as part of a plan to make 35% savings in its operating expenditure. HTC’s Chairwoman, Cher Wang, had this to say:
“This strategic realignment of our business will ensure that
each product group has the right focus, the right resources and the
right expertise to win new markets.”
It isn’t a pleasant sight to see HTC in this position, just four short years ago it was the ‘King of Android’, now the handset maker’s share of the smartphone market has slipped to just 2% and it is down to its last $1.5 billion in cash reserves. Here’s hoping that HTC’s next ‘Hero’ smartphone helps steer them back to profitability instead of being the final nail in the coffin.
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