HTC axes 1,500 people

HTC axes 1,500 people

HTC was once the name behind one in ten smartphones in the market, however, due to enormous competition from other smartphone makers like Apple, Samsung and Chinese smartphone giants, the company has seen a massive decline in market share and sales.

As part of HTC's plans for optimization of its manufacturing process, the company announced on June 2 that it would be cutting 1,500 jobs in Taiwan.

Things have gone from bad to worse for HTC, and the situation is getting bleaker.

"Today HTC announces plan to optimize the manufacturing organizations in Taiwan [.] This plan will allow more effective and flexible resource management going forward", the company said.

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The smartphone brand said it submitted a layoff report to labor authorities in Taoyuan, where HTC is based, and vowed to abide by the law in carrying out the plan.

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. The company reported a 55.5 percent plunge in April revenues year-on-year and a 46.7 percent slide in March sales. It expects to complete the layoffs by September.

The mobe maker has persistently failed to come up with anything that pushes it ahead of competitors, leading to a billion-dollar deal late a year ago with Google to effectively sell 2,000 of its handset engineers to the monster web corp.

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