HTC America Terminates 20 Percent Of Their Workforce
HTC America announced on Friday that they have decided to terminate 20 percent of its workforce. The layoffs equate to approximately 30 employees out of the 150-person division. The announcement appears to be a direct result of HTC’s recent financial woes. The Taiwanese company expects next quarter’s revenue to be anywhere around $1.67 billion to $2 billion, with an operating profit of anything from $0 down to as low as -minus 8 percent. Considering HTC accomplished $2.4 billion in revenue and $168 million operating profit last year at this time, this would be a huge financial blow to the company.
A HTC spokesperson called the decision “… a decisive action by HTC Corp (US) to streamline and optimize our organization and improve efficiencies after several years of aggressive growth.” The Verge initially broke the story after uncovering a letter from division president Jason Mackenzie, who was quoted as promising to “treat the impacted employees with the respect they deserved and provide them with resources to help bridge them to their next opportunity.” HTC America’s full statement can be found below.
Today’s reduction in force is a decisive action by HTC Corp (US) to streamline and optimize our organization and improve efficiencies after several years of aggressive growth. Realigning its human resources against key strategic initiatives will help HTC more effectively advance into a new stage of growth and innovation. This is a hard decision that has direct impact on people who have contributed to the growth HTC has experienced the past several years. However, to achieve our long-term goals as a business and return maximum value to our shareholders, this is a necessary step to drive ongoing innovation, ensure our ability to create strong products like the HTC One, and forge strong customer relationships that solidify our future. HTC is proud of its employees and has a track record of hiring the best and brightest; we continue to hire in strategic areas and encourage impacted employees to apply for open positions that are a fit for their skills.
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