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HTC To Cut Staff Levels By 15% Operating Costs By 35%

HTC To Cut Staff Levels By 15% Operating Costs By 35%

HTC chairwoman/CEO Cher Wang is desperately trying to reorganise the Taiwanese Company said that the restructure was based on trying to achieve  “significant profitable growth with a leaner and more agile operating model going forward,” she said overnight. 

 HTC said that they will create of new business units to focus more on “profitable growth in key areas of the premium smartphone market, virtual reality, and connected lifestyle products,” the company said.

 “Now, as we diversify beyond smartphones, we need a flexible and dynamic organization to ensure we can take advantage of all of the exciting opportunities in the connected lifestyle space,” said Wang. 

“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.” 

The announcements follow a second quarter in which the company reversed four consecutive quarters of net profits to post a net loss $252.7 million, an operating loss of $161.1 million, and revenues of $1.04 billion, down 49 percent from a year-ago.

 At the time, the company said it would trim its smartphone portfolio and operating costs, expand its selection of more profitable premium phones, develop more trendy handsets, and maintain current initiatives to enter the virtual-reality and interconnected-device markets, including fitness products.