Reuters reports that HTC a Taiwanese phone company with North American headquarters in Bellevue, has confirmed layoffs. The global employee base of 17,000 includes about 150 regional employees. Of those, about 30 have been laid off in the Factoria office.

“Realigning its human resources against key strategic initiatives will help HTC more effectively advance into a new stage of growth and innovation. This is a hard decision that has direct impacts on people who have contributed to the growth HTC has experienced the past several years,” read a statement from the company. “However, to achieve our long-term goals as a business and return maximum value to our shareholders, this is a necessary step to drive ongoing innovation, ensure our ability to create strong products like the HTC One, and forge strong customer relationships that solidify our future.”

Reuters reports that the company’s shares dropped 4 percent on Monday, despite a 0.9 percent rise in the broader market.