Taiwan-based smartphone maker HTC has announced plans to slash its workforce by 15 percent, or around 2-thousand jobs.
This comes after the company posting its biggest ever quarterly loss.
The company has posted a loss of just under 250-million U.S. dollars through the second quarter.
This is a massive decline from the net profit of some 2.2 billion U.S. dollars in the same period of last year.
HTC's shares closed down 7.8 percent yesterday on the news.
HTC has seen its fortunes collapse as Samsung, Apple and mainland brands such as Lenovo and Huawei have surged ahead.
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