HTC has announced a significant restructuring plan that will see 15% of its global workforce laid off. The decision comes as the Taiwanese tech company grapples with declining sales and aims to reduce its operating expenses by 35%.

As part of the restructuring, HTC plans to create new business units that will focus on growing profitable areas, such as premium smartphones, virtual reality (VR), and related products. The company’s CEO, Cher Wang, emphasized the need for a more “flexible and dynamic organization” to seize market opportunities.

Despite its struggles, HTC aims to sharpen its focus on areas where it sees potential for growth, especially in the VR and premium mobile markets.