HTC, a Taiwanese consumer electronics company has affirmed that the layoff of employees occurred due to its focus on continuing to innovate their product portfolio and services, especially Vive, its virtual reality system and Exodus, its series of blockchain-powered smartphones.
This will be the third dismissal done by HTC as it claims that its latest workforce adjustment will allow the company to focus on innovation efforts targeting the above-mentioned products. Compared to 2013, where HTC had 19,000 employees, it is left with only 3,000 employees now.
It is reported that the earlier downsize occurred in 2015 and 2018 with 2,250 and 1,500 employees respectively. Additionally, in January 2018, HTC lost around 2,000 of its engineers to Google in a $1.1 billion deal.
According to HTC, despite the dismissal, employees can still get full year-end bonuses and there will be more exciting products on the market in the future.
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