HTC cuts Manager salaries by half




HTC cuts Manager salaries by half

For HTC one has apparently taken drastic measures certainly not optimal because of the situation with sluggish sales, declining market share and Manager versions litters in 2012. So the executive salaries and bonus payments were substantially reduced, such as HTC hinted in his Annual Report published today for the fiscal year of 2012.
HTC cuts Manager salaries by half

The top executives of HTC received a total of only 660.5 million Taiwan dollars in the form of salaries, pension payments, bonuses and profit sharing for the year. Converted, this corresponds to approximately 22 million dollars and a decrease over the year 2011 at 51.3 per cent full. HTC CEO Peter Chou and President of Engineering and Operations Fred Liu had to accept a reduction of their income in each case to less than 100 million Taiwan dollars – for the first time in two years.

The reduction in the payments to the management team should be directly related with HTC’s problems. The company had to cope with a sharp decline in its share price, the sales figures and market shares and of course profits. Among others, there were delays in the launch of new products, marketing campaigns did not achieve the desired success and Samsung built its supremacy from significantly. HTC CEO Chou told shareholders today that would have to have patience as the company tries to move with more spending on marketing and using the HTC one as the new flagship returns to growth.



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