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Taiwan's HTC announced more layoffs to its employees to implement cost reduction

Taiwan's struggling smartphone maker HTC Corp. announced Monday that it will "strategically adjust" its human resources and continue optimizing its organizational structure to reduce operational costs, but did not disclose the exact number of employees to be laid off.

This is the second time HTC has confirmed market rumors of employee layoffs since Dec. 16 last year when it announced that it was aiming to reform its operations to ensure better development of its Vive virtual reality (VR) and smartphone businesses.

HTC posted a net loss after a tax per share of NT$2.05 (US$0.068) in the first quarter of this year, the smallest loss in nearly seven quarters, but its gross margin rose to 26.2 percent, representing the ninth consecutive quarterly growth since the fourth quarter of 2017.

The company said it will continue optimizing its workflow, cost control and technological innovations to transform business operations for the better.

The COVID-19 pandemic has provided a market opportunity for VR, as lockdowns in many places have kept people indoors, which has created an increase in demand for virtual events, HTC said, adding that it is working with VR content developers to build VR apps for HTC Vive to meet the sudden shift to remote working through online meetings and remote device access. (By CNA)

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