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Taiwanese smartphone manufacturer HTC has announced another staff downsizing in an attempt to course-correct its current roadmap and focus on key products in the coming months. Among the high-end items that will be the main priority of the company is EXODUS, a blockchain phone lineup that can act as a secondary wallet and a full bitcoin node.
At the time of writing, HTC has yet to announce the scale of staff cut or which department will take the brunt of the hit. HTC currently has 3,000 employees under its umbrella, a far cry from the previous count where it has 19,000 workers during its peak in 2013.
Those who will be axed will be eligible to receive a two-months’ worth of salary as part of their year-end bonus, CNA reported.
A far cry from its previous form
This marks the third major downsizing of HTC in the last four years. The first occurred in 2015 where it axed 2,250 employees, followed by another 1,500 staff cut in July last year.
This maneuver is part of HTC’s strategy to laser focus its effort on products with better prospects including the virtual reality system VIVE and the aforementioned EXODUS phone. EXODUS has been making waves in the crypto industry following its release last year.
HTC contributing to crypto mass adoption
Last month, HTC announced that it will be supporting Binance’s proprietary blockchain platform on its special edition smartphone, the EXODUS 1. Initially, the smartphone can only be purchased using cryptocurrencies but was later made available through traditional fiat with a price tag of $699.
HTC’s Decentralized Chief Officer Phil Chen expressed his excitement over the supporting of Binance DEX (decentralize exchange) through its Zion Vault. Binance CEO Changpeng “CZ” Zhao said that smartphones will be a significant factor in pushing the mass adoption of crypto technology.
“The implications [of this] are profound and far-reaching, and the most innovative smartphone makers are racing to integrate crypto for mass adoption and seamless usability,” he said. “We are excited to collaborate with a manufacturer that is taking the innovative steps forward to truly empower users and further adoption,” CZ said.
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