As expected, smartphone maker HTC has announced more layoffs, and the cuts are brutal. The company will let 15 percent of its workforce go (over 2,000 employees), due in large part to falling revenues and profits. Last week the company reported shaky financial results, which it chalked up to worse-than-expect sales of its HTC One M9 flagship. It's also facing an ever-tightening smartphone market and more competition, especially from Chinese companies like Xiaomi and Huawei. The layoffs are part of a company-wide realignment, and CEO Cher Wang -- who took the reigns from Peter Chou in March -- tried to put a positive spin on it.