Apparently the cunning plan is so cunning that it was devized by a team of foxes who have a doctorate in Cunning from the University of clever thinking. It is so clever that it will draw HTC into the black without ruining any of its staff's lives, putting anyone on the street or all the normal things that happen when a company is out of ideas.

Nah... not really. HTC has announced that it will slash its operating costs by 35 per cent and its global workforce by 15 per cent by implementing a restructuring plan to sustain revenues and profit growth with a leaner and more flexible business model.

This will see more than 2,250 people collecting their pink slips and P45s.

Under the restructuring plan, the company will create new business units to focus on its major areas of premium smartphones, virtual reality (VR) devices and smart connected products, the company said.

According to chairperson and CEO Cher Wang, since HTC has diversified beyond smartphones, the company needs a flexible and dynamic team able to grasp the emerging opportunities and related advantages in the smart connected lifestyle space.

HTC shipped about 5.4 million smartphones in the second quarter of 2015, down from the 6.8 million units shipped in the same period last year.