HTC to cut around 2,000 jobs after posting biggest ever losshttps://indianexpress.com/article/technology/tech-news-technology/htc-to-cut-around-2000-jobs-after-posting-biggest-ever-loss/

HTC to cut around 2,000 jobs after posting biggest ever loss

HTC had posted a loss of $ 252.7 million or the second quarter as against a net profit of $ 2.26 billion in the same period, last year.

HTC, HTC job cut, HTC financial report, HTC loss, HTC CEO Cher Wang,
HTC had posted a loss of $ 252.7 million or the second quarter as against a net profit of $ 2.26 billion in the same period, last year.

Handset maker HTC today said it will slash its headcount by 15 per cent globally, a move that could impact as many as 2,000 jobs after the Taiwanese firm posted its biggest ever loss in the second quarter this year. Earlier this week, HTC had posted a loss of 8.0 billion Taiwanese Dollar ($ 252.7 million) for the second quarter as against a net profit of $ 2.26 billion in the same period, last year.

The business realignment positions the company for a significant profitable growth with a leaner and more agile operating model, HTC said in a statement.

“The realignment will also involve streamlining of operations to result in an expected reduction in operating expenditure of 35 per cent; this includes an expected 15 per cent in headcount,” it added. HTC said the program includes the establishment of new business units to create greater focus and profitable growth in key areas of premium smartphones, virtual reality, and connected lifestyle products.

“Now, as we diversify beyond smartphones, we need a flexible and dynamic organisation to ensure we can take advantage of all of the exciting opportunities in the connected lifestyle space,” HTC Chairperson and CEO Cher Wang said. This strategic realignment of business will ensure that each product group has the right focus, the right resources and the right expertise to win new markets, she added.