Samsung's Unpacked event just finished up, so you may be wondering: How is HTC doing? Oh, you weren't thinking that? We'll tell you anyway. Not well. The smartphone manufacturer announced to investors today that it aims to cut costs by 35% as it tries to become a leaner, more agile organization.
What does this translate to? The company intends to let go of 15% of its employees, which amounts to a couple thousand jobs or so. People cost money. Managing them costs money. And money seems to be something HTC is losing at the moment.
Removing those workers is part of HTC's plan to continue creating devices aside from smartphones.
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. 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.”
—Cher Wang, HTC Chairwoman and CEO