HTC is planning to cut 15% of their workforce

HTC announced yesterday to it's investors that it aims to cut their operating costs by 35% in order to become a leaner and more nimble organisation.

What does this mean? HTC intends to make 15% of its employees redundant, which totals to a few thousand jobs (no exact figure given). HTC is not doing great in terms of profit and so laying off workers is a way to reduce the damage from financial losses.

Here is a quote from the CEO of HTC herself: .

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