HTC announced that it will take several cost-cutting measures, including the elimination of jobs.
HTC plans to cut about 2,250 employees, or 15% of its headcount by the end of the year, in order save money. Between the job reductions and other actions, HTC hopes to reduce expenses by about 35%.
The company is also reorganizing a bit and will form new business units to help it better focus on selling phones, develop its virtual reality tech, and market its connected lifestyle products.
Once a leading maker of smartphones, HTC’s global share of the smartphone market has dropped to just 2% amid fierce competition at the high and low ends of the market
