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Taiwanese smartphone maker HTC plans to slash the workforce in its native country by more than one-fifth in yet another restructuring move.

The electronics company said the cuts would amount to about 1,500 factory workers, according to Engadget, or 22 percent of its overall Taiwan-based workforce.

The company, the report added, has seen sliding profits in recent years and disappointing reactions to its latest headsets. The layoffs followed Google's high-profile acquisition of a portion of HTC's smartphone division — and some 2,000 HTC engineers — last year.

HTC officials said in a statement that the changes would increase its cost-efficiency and improve its financial standing.

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